Where does Singapore stand in the downstream market index?

Its risk-reward index sits at 58.6.

As the upstream index of Asian countries continues to be badgered due to weakness in global oil prices and spending pullbacks among producers, their downstream, index is expected to be intact and to improve over subsequent quarters, with Singapore topping the list.

According to a report produced by BMI Research, Singapore remains at the top of downstream market in the Asia-Pacific.

The city-state's world-class downstream infrastructure and better fuels consumption growth compared to its competitors such as South Korea, Japan, and Taiwan propelled its downstream risk/reward index to 58.6.

"The highly sophisticated nature of its refineries and broad product slates mean that Singapore is in a good shape to thrive in an increasingly competitive Asian refining market," the report noted.

India closely followed, wherein improving technological capability of domestic refineries and the sheer size of projected demand growth over the coming years again lifted its score above most regional peers.