Singapore oil inventories hit three-week low

Oil product inventories in Singapore reached a three-week low during the week ending September 23, 2026. According to data from Enterprise Singapore, total onshore oil stocks fell by 6.9% to 39.68 million barrels.

The decline affected all oil product categories. Residual oil stocks dropped 1.8% to 19.78 million barrels, marking the first time in three weeks that levels fell below the 20 million barrel threshold. While residual oil imports decreased by 9.5%, exports surged by 79.1% to over 400,000 tons, with major destinations including China and Malaysia.

In the middle distillates category, inventories fell to 8.13 million barrels, driven by a reduction in net exports of jet fuel and kerosene. Meanwhile, net exports of diesel and gasoil increased more than threefold compared to the previous week. Indonesia has emerged as a primary destination for gasoline exports from the regional trading hub.