Picture used for illustrative purpose. File

Gulf Today Report

Oil products stockpiles at Fujairah advanced 12 per cent, the highest rise since February based on data by Fujairah Oil Industry Zone.

As at 7th of December, the stockpiles amounted to 23.088 million barrels. Inventories for Light distillates amounted to 6.818 million barrels, 6.063 million barrels for middle distillates and heavy distillates amounted to 10.207 million barrels, according to the data. 

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Heavy distillates jumped by 18 per cent, middle distillates by 13 per cent and light distillates by 3 per cent.

The last time the three categories recorded week-on-week gains was in August.

However, export has slowed down across the three categories in recent months. In November, middle distillates exported was 96,00 b/d, down from 137,000 b/d in June.  While 213,000 b/d of fuel oil was exported, down from 282,000 b/d in October. Light distillates exports were only 99,000 b/d in November, down from 312,000 b/d in August, according to Kpler data.