* Implied oil demand falls to 9.41 mln bpd in May
* China oil consumption down 0.7 pct on year
BEIJING, June 13 China's implied oil demand fell
3.1 percent in May from the previous month to its lowest since
August as refineries scaled back production for maintenance and
continued to export surplus fuel to trim inventories as the
nation's economy slowed.
China's economic activity stabilised in May as the
government ramped up policy measures to arrest a sharper
slowdown, with retail sales logging their best performance since
December. Overall, though, China's recovery appears patchy.
China consumed roughly 9.41 million barrels per day (bpd) of
oil last month, according to Reuters calculations based on
preliminary government data, the lowest level in nine months and
down from 9.71 million bpd in April.
May consumption was also down 0.7 percent from 9.48 million
bpd a year earlier, the calculations showed.
The International Energy Agency (IEA) forecast in its May
report that China's total oil demand would log an increase of
355,000 bpd, or 3.5 percent, for the whole of 2014.
The IEA said China's oil demand only grew 1.3 percent in the
first quarter of this year, adding that growth should pick up
through the rest of the year.
The expected near-7.5 percent growth in the world's second
biggest economy should support relatively strong gains in
gasoline, jet fuel and petrochemical products, the IEA said.
Reuters calculates implied oil demand using official
refinery throughput data plus net imports of the main refined
products, excluding changes in fuel stocks, which China rarely
China's daily crude throughput in May fell 1.3 percent to
9.5 million bpd from 9.63 million bpd in April as refineries
entered the peak maintenance season, data from the National
Statistics Bureau (NSB) showed.
The crude throughput was up 3.5 percent from a year ago, the
NSB data also showed.
China turned net fuel exporter again in May, the second time
this year, as oil firms kept exporting surplus fuel.
Net fuel exports in May were 410,000 tonnes, or 92,580 bpd,
compared to net imports of 340,000 tonnes in April and 1.25
million tonnes a year earlier, customs data showed earlier.
China imported 6.14 million bpd of crude oil in May, down
9.4 percent from a record high of 6.78 million bpd in April.
(Reporting by Judy Hua and David Stanway; Editing by Tom Hogue)