|China Crude Oil Inventory - Seasonality Chart|
|Kayrros sees Chinese stocks in the first half of April up by 5.25 MMb, at 470.91 MMb, partly reversing March draws. |
China April stocks remain at an 18.86 MMb deficit year-on-year.
Chinese inventories went up by 55.2 MMb during Q2 2017. Kayrros will continue to track changes on China inventory in Q2 2018 and provide updates.
- Crude oil stocks held at terminals went down by 11.15 MMb during March 2018, from 476.71 MMb to 465.66 MMb amid record refinery runs.
- Chinese refinery runs have risen to a record 12.13 MMb/d of crude oil processed in March 2018, up by 8.4% from March 2017, according to China National Bureau of Statistics.
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