According to the latest data published by the Fujairah Oil Industry Zone (FOIZ) on October 3rd, total industries have reached 18.573 million barrels, signifying a decrease of 9% since the beginning of the year. The FOIZ data further reveals that this overall decline was mostly led by Light Distillate.
1. Total industries in the Fujairah Oil Industry Zone have decreased by 9% since the beginning of the year.
2. The overall decline in industries was largely driven by a decrease in light distillate inventories.
3. Light distillate inventories, including gasoline and transportation fuels, fell by 1.2% to 9.372 million barrels.
4. Middle distillate inventories, such as diesel and heating oil, decreased by 0.6% to 3.921 million barrels.
5. Heavy distillate inventories, including fuel oil for power generation and industrial use, dropped by 3.7% to 5.28 million barrels.
Light Distillate saw a decrease of 34% in industries, reaching 6.865 million barrels since the beginning of the year, according to the FOIZ.
Light distillate inventories, which include gasoline and other fuels used for transportation, fell by 1.2%, reaching 9.372 million barrels. Meanwhile, middle distillate inventories, which include diesel and heating oil, decreased by 0.6% to 3.921 million barrels. Finally, heavy distillate inventories, which include fuel oil for power generation and industrial use, dropped by 3.7% to 5.28 million barrels. These numbers reflect the continuing downward trend in the energy sector, with total industry inventories declining across different fuel types.