Stocks across the Pacific Basin reached 24.2 million bbl in May as refineries came back on line following maintenance turnarounds. Tanks were 9% higher than year-earlier levels, with most of the surplus concentrated on the US West Coast and in Australia. West Coast stocks swelled as steady imports flowed in and California refiners boosted throughput ahead of the summer driving season. Australia has increased its stock cushion to improve supply security. South Korean holdings topped 5 million bbl, while Japanese tanks climbed to 6.5 million bbl.
展开▼
