October 12, 2021 | oil and gas

Decrease in Sep Oil Stocks Likely to Assist Chinese Independent Refineries' Oct Throughput

China's independent refineries' gasoil and gasoline stocks fell in September as demand exceeded supply, which would help boost the plants' throughput in October.


Gasoil and gasoline stockpiles at China's independent refineries fell in September as demand exceeded supply, helping to boost throughput at these plants in October, according to statistics from information source JLC on October 12.

Gasoline stock declined 31.7% month over month to 656,400 mt in September, occupying 17.5% of storage capacity, while gasoil stock plummeted 33.9% month over month to 760,500 mt in September, occupying 15.8% of capacity.

Despite significantly lower demand from the transportation and industrial sectors due to power rationing beginning late September, September and October are normally a seasonal peak for gasoil consumption to fulfill demand from mining, construction, and harvesting activity.

Meanwhile, during the Mid-Autumn Festival vacations in late September, a small loosening of traffic regulations due to fewer COVID-19 lockdowns boosted petroleum use.

In addition, when the new consumption tax interrupted imports, inventories of light cycle oil and mixed aromatics, used as blending components for gasoline and gasoil — fell.

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