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China crude inventories rise month on month

Xinhua, October 26, 2016 Adjust font size:

China's crude inventories rose 2.46 percent month on month at the end of September, data showed on Wednesday.

Although crude imports stayed almost flat last month, crude stockpiles posted a month-on-month increase due to falling crude consumption, according to Xinhua's oil price system.

However, petrol, diesel and kerosene inventories dipped 6.59 percent from one month ago, due to a surge in exports and rising demand.

Diesel exports soared 48.3 percent in September from one month earlier, while autumn harvest and sowing as well as accelerating outdoor infrastructure construction pushed up domestic demand for the fuel.

Petrol consumption also jumped in September as the period before the National Day holiday is peak time for purchasing petrol as residents prepare for road travel. Endi