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China sees stable supply of refined oil products in January-September

(Xinhua)

16:58, October 17, 2011

BEIJING, Oct. 17 (Xinhua) -- China's oil market remained balanced in the first three quarters, with the apparent consumption of refined oil products going up 5.7 percent to 180.43 million metric tons, the country's top economic planner said Monday.

According to a report posted on the website of the National Development and Reform Commission (NDRC), China produced 184.28 million metric tons of refined oil products from January to September, up five percent from the same period last year.

There has been a downward trend in China's stock of refined oil products. China had 11.48 million metric tons in stock by the end of September, 26.46 percent lower than this year's February peak.

The report also said that the production of crude oil increased 1.6 percent to 151.83 million metric tons in the first three quarters.

Crude oil imports in the first nine months came out to 188.97 million metric tons, representing a year-on-year growth of 9.5 percent.

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