Commodities May 28, 2026 11:13 AM

ARA oil product inventories drop to lowest level since November 2014

Overall stocks fall about 1% to 4.42 million tonnes as most product inventories decline while gasoline rises on blending

By Priya Menon

Total independently held oil product inventories in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell roughly 1% in the latest week to 4.42 million metric tons, reaching their lowest level since November 2014, driven by decreases across most products even as gasoline stocks rose on increased blending activity, according to data from Dutch consultancy Insights Global.

ARA oil product inventories drop to lowest level since November 2014

Key Points

  • Total independently stored oil product stocks in the ARA hub fell about 1% to 4.42 million metric tons, the lowest since November 2014.
  • Gasoline inventories rose 7.5% to 1.11 million tons driven by increased blending; most other product categories declined.
  • Gasoil/diesel, jet/kerosene and fuel oil stocks all decreased due to a mix of weaker inland demand, higher imports, and increased exports, affecting refining, storage and trade flows.

Overview

Total oil product stocks stored independently in the Amsterdam-Rotterdam-Antwerp refining and storage hub decreased by about 1% in the most recent reporting week, reaching 4.42 million metric tons, the lowest aggregate level since November 2014, according to figures released by Dutch consultancy Insights Global.


Product-level movements

The week-on-week decline in overall inventory was the net result of falling stock levels across most categories of finished fuels, while gasoline bucked the trend and recorded a material build.

Gasoline inventories climbed 7.5% to 1.11 million tons. Insights Global attributed that increase to an uptick in blending activity within the region, which pushed gasoline volumes higher.

By contrast, gasoil and diesel stocks fell by 1% to 1.83 million tons. Insights Global noted the decrease reflected weakened inland demand combined with higher import volumes during the period.

Jet fuel and kerosene holdings declined 4.6% to 563,000 tons. The consultancy flagged rising exports to the United Kingdom alongside reduced inbound shipments as the key drivers of that drawdown.

Fuel oil inventories fell 3.1% to 539,000 tons. That level is the lowest recorded since November 2014 and the drop was associated with heightened export flows.


Context for market participants

These weekly movements highlight how shifts in blending operations, inland consumption, and cross-border trade flows are directly reflected in stored product volumes at the ARA hub. Gasoline increases were specifically linked to blending, while declines in middle distillates and jet fuel aligned with weaker domestic demand and stronger export activity.


What the data shows

  • Total ARA independently held oil product stocks: 4.42 million metric tons - down about 1% week-on-week.
  • Gasoline: up 7.5% to 1.11 million tons (blending activity cited).
  • Gasoil and diesel: down 1% to 1.83 million tons (weaker inland demand; increased imports).
  • Jet and kerosene: down 4.6% to 563,000 tons (higher exports to the UK; lower imports).
  • Fuel oil: down 3.1% to 539,000 tons - lowest since November 2014 (increased exports).

Data and commentary in this report are taken from the release provided by Insights Global.

Risks

  • Weakened inland demand for gasoil and diesel could continue to pressure middle distillate inventories and refinery throughput decisions, impacting the refining sector.
  • Shifts in import volumes and rising exports, particularly of jet fuel/kerosene and fuel oil, create uncertainty for storage utilization and regional supply balances.
  • Dependence on blending activity to support gasoline stocks means changes in blending operations may rapidly reverse gasoline inventory builds, influencing distribution and retail fuel availability.

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