Singapore’s middle distillate stocks fall to lowest since December 2013

Oil

Singapore’s middle distillate stocks declined by 976K bbls w-o-w to 7.17M bbls during the week ending 12 January, falling to the lowest level since the week ending 11 December 2013, according to Reuters citing Enterprise Singapore data. This is a decline of 7.38M bbls (or 51%) compared to the same week in 2021. Light distillate inventories rose by 590K b/d w-o-w to a seventeen-week high of 13.65M bbls however, with fuel oil supplies also jumping by 1.29M bbls w-o-w to 22.34M b/d.