Commercial oil product inventories of private traders in China amounted to 140,000mt up till Aug 31, down by 5,000mt or 10% from two weeks ago, C1's research found.
The inventories were 72,000mt for gasoline, down by 8,000mt; gasoil inventories fell by 7,000mt to 68,000mt.
Private traders reduced oil product stocks in mid-August with bearish expectations on retail ceiling prices as international crude prices retreated, market sources said.
C1's research involves private oil terminals in 17 provinces and municipalities with storage capacities aggregating 330,000mt for gasoline and 340,000mt for gasoil.
