LONDON, June 18 (Reuters) – Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp hub rose by 5 percent to 862,000 tonnes in the week to Thursday amid strong overseas demand, Dutch-based oil consultancy PJK International said.
Total product stocks in the region rose to a new record high at 5.86 million tonnes.
European refineries have ramped up gasoline production in recent months due to multi-year-high profit margins on the back of unusually strong global demand for gasoline prompted by the drop in oil prices.
“There is lots of export activity,” PJK’s Patrick Kulsen said.
“Big tankers are going out and barges are coming in from refineries in Europe to Amsterdam and loaded on tankers.”
Gasoil stocks were little changed at 3.03 million tonnes.
Weekly ARA stocks (in ‘000 tonnes)
|Incoming cargoes||Outgoing cargoes|
|Gasoline||Denmark, Russia, UK||Canada, USA, WAF|
|Gasoil||France, Latvia, Saudi Arabia, USA||Argentina, UK|
|Fuel oil||Brazil, Estonia, France, Germany, Lithuania, Poland, Russia||VLCC exp. Departure June 23 destination Singapore|
|Jet fuel||Bahrain, UAE||None|
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