China's commercial crude inventories at the end of July climbed by 3.3% month on month, according to the data released by China National Petroleum Corporation.
The country's crude output went up by 0.87% month on month to 17.30-mil mt in July, and its throughput rose to 37.49-mil mt, up by 5.43%, showed the data from the National Bureau of Statistics. Larger throughput was because some refineries hiked operation after maintenance, C1 found.
Meanwhile, its crude imports dropped by 1.37% month on month to 19.43-mil mt, the lowest level of this year, indicated the data from the General Administration of Customs.
With national strategic petroleum reserves taken into account, China's crude inventories were equal to about 68 days of net imports or 38 days of consumption, C1 data showed.
Domestic major refiners' crude inventories comprise stocks in refineries, stocks in pipelines and commercial stocks.
