UPDATE 1-China end-April crude oil stocks up 0.56 pct on month

Fri May 23, 2014 3:32am EDT

Related Topics

* Crude stocks rise on high imports

* Refined fuel stocks down for 2nd month in row

BEIJING May 23 (Reuters) - China's commercial crude oil inventories at the end of April rose 0.56 percent from a month earlier on high imports, the official Xinhua news agency said on Friday.

But refined fuel stocks fell 3.61 percent from end-March, Xinhua reported in its oil and gas newsletter China OGP.

Of the total, diesel stocks dropped 6.58 percent as demand rebounded on the start of spring ploughing and infrastructure construction, kerosene stocks declined 3.76 percent and gasoline stocks increased 0.69 percent, it said.

The OGP newsletter does not provide outright inventory volumes, and the government rarely discloses levels of either commercial or strategic oil stocks, making it difficult to gauge real demand in the world's second-largest oil consumer.

China's crude imports rose more than a fifth in April from a year earlier to a record high of 6.78 million barrels per day (bpd), helped by higher seasonal demand and indications of stockpiling.

China's refinery crude throughput in April rose 3.8 percent from a year earlier to 9.63 million barrels per day (bpd), official data has showed.

Daily crude runs, however, fell 2.4 percent from 9.87 million bpd in March, as some refineries scaled back production for maintenance. (Reporting by Judy Hua and Jonathan Standing; Editing by Joseph Radford)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.