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China’s Diesel Stocks Rise In January

Oil

China’s commercial diesel inventories in January increased by 17.1M bbls m-o-m to a 6-month high of 60.8M bbls, Reuters reports. However, compared to January 2016, stocks were down by almost 1M bbls. Kerosene stocks were up by 0.8M bbls from the prior month and 4.2M bbls higher y-o-y to 19.2M bbls. In contrast, gasoline inventories tumbled by 8.4M bbls m-o-m to 62.9M bbls, the lowest since February 2016. Although this was still up by 1.6M bbls y-o-y.