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China Stock Movements - February 2017

Source: OPEC 3/8/2017, Location: Asia

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The latest information for China showed total commercial oil inventories fell slightly by 0.4 mb in December to stand at 362.8 mb, which is 21.3 mb lower than the previous year. Within the components, crude fell by 4.3 mb, while product inventories rose by 3.9 mb. In December, commercial crude stocks fell for the third consecutive month to 222.3 mb, standing 21.2 mb below the previous year at the same time. This drop could be attributed to higher crude runs as crude imports were up.

On the other hand, total product stocks in China rose by 3.9 mb in December to stand at 140.5 mb. Total product stocks were 0.2 mb below the same time a year ago. Gasoline and kerosene inventories saw builds of 3.5 mb and 1.1 mb, respectively, while diesel experienced a fall of 0.7 mb.

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