China crude oil stocks jump 1.05 million b/d

摘要

Singapore-China’s crude oil stocks jumped 1.05 million barrels/day in March as independent refiners took advantage of lower global prices in previous months and picked up plentiful cargoes from the spot market, a trend that is likely to continue in April. The jump in March crude oil stocks was a reversal from the trend in March last year when the country had a 205,000 b/d drawdown in stocks, Platts calculations based on latest official data showed.