China's oil product stocks grow 6.1% in December

Jan 20, 2012 16:16 PM

Guangzhou (C1 Energy)--China's oil product stocks at the end of December 2011 climbed by 6.1% from a month before, according to the data released by China National Petroleum Corporation.
The country's gasoil stock rose by 10.2% to a level equivalent to about 19.0 days of consumption and its gasoline stockpile went up by 1.4% to around 32.5 days of consumption volume, the data showed. Its kerosene inventory climbed by 4.9% in December.
The stockpiles increased as domestic production increased amid high operating rates at refineries, C1 research showed. Its gasoil and gasoline output both hit the highest monthly level in 2011.
In addition, demand for gasoil weakened notably in the month. Meanwhile, demand for gasoline and kerosene remained weak.