BEIJING: China's commercial crude inventories inched up 0.6 percent at the end of September from a month earlier, after falling for the first time in six months in August, the official Xinhua News Agency reported in a newsletter on Monday.
The higher crude stocks may be the result of higher crude imports. Daily crude oil imports in September rose more than 12 percent from August, while daily crude runs rose 6 percent, official data have showed.
Refined fuel stocks rose after six consecutive monthly falls, adding 1.0 percent at the end of September from a month earlier, Xinhua said in its China OGP newsletter.
Gasoline stocks at the end of September rose 0.83 percent from a month earlier, while diesel stocks edged up 0.25 percent and kerosene inventories soared 5.8 percent, the newsletter said.
Xinhua OGP does not provide outright inventory volumes, and the government seldom discloses either commercial or strategic oil stock levels, making it difficult to gauge real demand in the world's second-largest oil importer.
Based on earlier figures from Xinhua, the percentage changes indicate gasoline stocks were at 6.12 million tonnes, diesel stocks at about 7.97 million tonnes and kerosene stocks at about 1.42 million tonnes for the month.
The National Development and Reform Commission said on Friday that China's refined fuel stocks at the end of September were 350,000 tonnes higher than a year earlier and slightly higher than a month earlier.
Diesel stocks were 290,000 tonnes up on the year and basically flat from the end of August, the commission said.
Implied oil demand in China hit a record high of 9.75 million barrels per day (bpd) in September as refiners raised runs to meet peak seasonal consumption, but the pace of annual demand growth in the world's second biggest oil consumer is at its slowest in more than a decade.
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