China's commercial crude inventories dropped 3.4% on month to 28.16-mil mt at the end of October, according to the data from China National Petroleum Corporation. The stockpiles fell for two consecutive months.
China lifted crude output by 3.7% on month to 17.76-mil mt in October, while it slashed imports by 30% to 16.39-mil mt, according to the data from the National Bureau of Statistics and the General Administration of Customs.
Meanwhile, the country boosted crude throughput to record high of 37.04-mil mt amid gasoil supply shortage.
Crude inventories of major Chinese refiners comprise stocks in subsidiary refineries, crude in pipelines and commercial stocks.
If strategic petroleum reserves are included, the country's crude stockpiles will be equal to more than two months of imports or about 40 days of throughput.
China lifted crude output by 3.7% on month to 17.76-mil mt in October, while it slashed imports by 30% to 16.39-mil mt, according to the data from the National Bureau of Statistics and the General Administration of Customs.
Meanwhile, the country boosted crude throughput to record high of 37.04-mil mt amid gasoil supply shortage.
Crude inventories of major Chinese refiners comprise stocks in subsidiary refineries, crude in pipelines and commercial stocks.
If strategic petroleum reserves are included, the country's crude stockpiles will be equal to more than two months of imports or about 40 days of throughput.
