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China Stock Movements in June 2015

Source: OPEC 6/14/2015, Location: Asia

The latest information for China showed a decline in total commercial oil inventories of 1.5 mb in April to stand at 409.4 mb, which was around 9.7 mb above the previous year at the same time. Within the components, commercial crude stocks rose by 1.2 mb, while product inventories fell by 2.7 mb. At 254.1 mb, commercial crude stocks represented a surplus of around 9.0 mb over the same period one year earlier. This build came from higher crude oil imports, which increased by more than 1.0 mb/d to average 7.4 mb/d. Lower crude oil throughput also contributed to this build, however, the 3.2% decline in domestic crude production limited further builds in crude oil inventories.

In contrast, total product stocks in China fell by 2.7 mb to end April at 158.3 mb, which was 0.7 mb higher than a year ago at the same time. Within products, gasoline went up, while diesel and kerosene witnessed draws. Gasoline rose by 1.2 mb, ending April at 54.2 mb, driven by higher gasoline output combined with lower exports. Diesel fell by 4.1 mb to end the month of April at 89.5 mb. Improvements in diesel demand were behind the drop in diesel stocks. Indeed, diesel demand rose by 0.23 mb/d from a month earlier and picked up by around 0.2 mb/d from the same month a year ago.

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


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