Insights Global

Insights Global is a Dutch market intelligence firm headquartered in Rotterdam that publishes the PJK ARA weekly oil stocks report — the canonical dataset for Northwest European product inventories in the Amsterdam-Rotterdam-Antwerp hub. The weekly survey covers gasoil, diesel, gasoline, naphtha, jet fuel, and fuel oil in independent tankage, sampling approximately 70-80% of independent ARA tankage.

In the european-oil-markets series, Insights Global PJK data has been the primary inventory signal for the ARA distillate tightness narrative across all eleven updates. With BP Rotterdam running zero crude throughput from both 200kbd units through May 2026, the PJK ARA gasoil stock series fell from 14.53 million barrels in April to 13.56 million barrels in early May (the lowest since July 2025), directly signalling the margin and restock arbitrage opportunity opened by the refinery's absence.

By the week ending 28 May 2026, PJK data showed ARA total oil product stocks at their lowest level since November 2014, a 12-year low recorded during a month typically associated with seasonal builds. The stock draw occurred as EU gasoil imports ran 695kbd in April, down 38% month-on-month, simultaneously removing both the domestic refining contribution and the import channel. BP Rotterdam's partial restart of one 200kbd unit on 4 June removed the most acute downward pressure on the PJK gasoil line, with ARA gasoil falling to a 2.5-year low near 13.66 million barrels in mid-June before slipping further to 13.56 million barrels on 18 June as Saudi import volumes contracted from 33-37% to 12% of ARA gasoil sourcing.

The PJK survey's most recent print (week to 22 June) recorded ARA jet fuel stocks at a six-year low, even as total ARA product inventories and gasoline stocks partially rebuilt. The divergence confirms that Hormuz-dependent Middle East supply routes remain operationally constrained while Atlantic-basin flows backfill only the higher-volume gasoline and gasoil segments, with jet remaining structurally tight as aviation demand holds.