China Stock Movements - May 2015

Source: OPEC 6/4/2015, Location: Asia

The latest information for China showed total commercial oil inventories rose by 7.9 mb in March to stand at 410.9 mb, which is around 7.0 mb above the previous year at the same time. Within the components, commercial crude stocks fell by 5.6 mb, while product inventories rose 13.5 mb. At 249.9 mb, commercial crude stocks represented a surplus of around 9.1 mb compared with the same period one year earlier. The fall in commercial crude stocks came mainly from the drop in crude oil imports, which declined by around 350,000 b/d to an average 6.3 mb/d. The increase of 5.5% in crude throughput also contributed to the decline. However, the increase of 2.1% in crude oil production limited further drops in Chinese crude oil commercial stocks.

In contrast, total product stocks in China rose by 13.5 mb to end March at 161.0 mb, which is 2.5 mb below a year ago at the same time. All products went up. Gasoline rose by 5.2 mb, ending March at 52.3 mb driven by a decline in gasoline demand. Diesel also saw a build of 7.6 mb to end the month of March at 93.6 mb. Higher diesel output was behind this build. Kerosene rose slightly, by 0.7 mb, to stand at 15.2 mb.


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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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