China commercial crude oil stocks rise in March

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BEIJING, Apr 21 (Business Recorder): Commercial stocks of crude oil in China rose two per cent in March from the previous month while stocks of gasoline, diesel and kerosene fell eight per cent, the first decline in 5 months. The rise in crude stocks reversed a two per cent fall in February and was equivalent to a stock-build of about 130,000 barrels per day, according to Oil, Gas and Petrochemicals (OGP). That implies non-commercial reserves of crude oil grew by about 165,000 bpd. Among the fuels, diesel stocks fell hardest, down 12 per cent, while kerosene stocks declined 8.5 per cent and gasoline was down 1.4 per cent. China's diesel stocks had built strongly from about 6.25 million tonnes in October and stood at around 10.3 million tonnes at the end of March.