Nevyn covers Asian refined products market analysis. After graduating from the National University of Singapore with a chemical engineering degree, he worked at ExxonMobil for 5 years where he held several roles including process engineering, business analysis and crude optimisation. Most recently, he was a senior analyst at Phillips 66 where he spent 4 years covering Asia and Middle East crude oil markets as well as crude optimisation for Melaka refinery.
Australian oil demand growth kept pace in May, rising y/y by 62 thousand b/d despite a high base. We expected demand growth to slow from May onwards as a high base from 2017 should have started to weigh on growth rates. But demand growth in May outpaced even the 12-month average of 34 thousand b/..
RBOB gasoline is tight on the USEC, but conditions in the broader global market have hardly improved. Combined stocks in PADDs 1, 2 and 3 moved into a small surplus in early July, marking the first time that stocks have been higher y/y since Hurricane Harvey. ARA and Singapore stocks are tracking..