Guangzhou (C1 Energy)--China’s commercial crude inventories at the end of December 2011 slipped by 2.2% month on month, according to the data released by China National Petroleum Corporation.
The inventories fell when the country’s net crude imports declined by about 0.97m tonnes but its crude throughput hit the highest level in 2011, official data showed.
Together with national strategic petroleum reserves, China’s crude inventories were equal to about 67 days of net imports or 37 days of consumption at the end of December, C1 data indicated.
Domestic major refiners’ crude inventories comprise stocks in refineries and pipelines and commercial stockpiles.
