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China’s Commercial Crude Stocks Fall To Almost 4-Year Low

Oil

China’s commercial crude oil inventories at the end of March fell by 4.76M bbls m-o-m and 19.50M bbls y-o-y to an almost 4-year low of 210.59M bbls, Reuters reports, citing data from the country’s official news agency Xinhua. Diesel stocks dropped by 5.74M bbls m-o-m and 6.86M bbls y-o-y to 73.11M bbls, but gasoline inventories climbed by 6.40M bbls m-o-m and 7.50M bbls y-o-y to 70.63M bbls.