China's oil product inventories slid 3% by end Jun

Chemical News: China's oil product inventories slid 3% by end Jun

https://www.chemnet.com Jul 22,2011
Oil product inventories in China marked an on-month fall of 3% by the end of June, according to data released by China National Petroleum Corporation.

The inventories dropped 7% for gasoline, slipped 1% for gasoil and up 1.3% for kerosene.

Gasoline and gasoil inventories are equal to about 33-day and 24-day consumption, respectively.

Crude throughput of major refineries declined obviously in June which is peak maintenance period, affecting oil product output, market sources denoted. On the other hand, middlemen and private petrol stations reduced gasoil inventories with bearish expectations on the near-term market as international crude prices headed south and gasoil demand in East China dampened by rainy weather, said the sources.

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