China produced 1.76-mil mt of fuel oil in March, down 1.35% from the previous month, up 17.1% compared with a year earlier, according to data released by the National Bureau of Statistics.
The on-month reduction could be mainly attributable to higher gasoline and gasoil output of major refineries, market sources pointed out. Additionally, some refineries switched to produce bitumen in March on obvious gains in prices of the product, the sources deemed.
China's fuel oil yield in the first quarter reached 5.37-mil mt, up 25.7% year-on-year, the NBS data also showed.
