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China's crude oil stockpile down 3.65 pct

Xinhua, February 25, 2016 Adjust font size:

China's commercial crude oil stocks edged down 3.65 percent in January from December, according to new analysis by Xinhua News Agency.

Last month, China's imports of crude oil stood at 26.59 million tonnes, down 19.28 percent from December, the data showed on Thursday.

Gasoline stocks increased 1.38 percent as economic headwinds and higher fuel prices combined to constrain consumption. Diesel stocks rose 6.74 percent as demand weakened before the Lunar New Year holidays, according to the report.

Stocks of kerosene gained 2.46 percent by the end of January.

China set a floor for retail fuel pricing in mid-January, aiming to buffer the negative effects of violent fluctuations in international oil prices. Endi