China Stock Movements in August 2014

Source: OPEC 8/16/2014, Location: Asia

The latest information for June showed Chinese total oil commercial inventories fell by 4.9 mb reversing the build of last month. At 402.2 mb, Chinese inventories were 23.1 mb above last year at the same time. Within the components, commercial crude inventories fell by 5.8 mb, while product stocks rose by 0.9 mb. At 246.0 mb, crude commercial stocks represent a surplus of 20.5 mb when compared to the same period a year earlier. The fall in crude commercial stocks came mainly from lower crude imports which declined by 8% to stand at 5.7 mb/d. Lower crude production by 1.4% also contributed to the fall in crude commercial stocks.

In contrast, total product stocks in China went up by 0.9 mb in June to stand at 156.2 mb, reversing the drop of the last three months. At this level, Chinese product stocks were 2.7 mb above a year ago at the same time. The build in product stocks could be attributed to higher refinery throughputs. Within products, the picture was mixed: gasoline inventories rose by 1.9 mb to stand at 69.9 mb; kerosene stocks also rose by 0.7 mb reaching 15.9 mb; and diesel inventories indicated a drop of 3.9 mb to end the month of June at 70.3 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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