China's March crude oil stocks up 2.2%

BEIJING -- China's crude oil inventories rose 2.2 percent month-on-month by the end of March, while stocks of refined oil products fell 1.8 percent in the same period, according to a monthly data report released by the Xinhua News Agency on Tuesday.

Gasoline and kerosene stocks surged 1.37 percent and 6.62 percent by the end of March, respectively, while that of diesel was down 4.97 percent from February, the data show.

Crude oil imports totaled 22.78 million tonnes in March, and crude oil output rebounded to the January level amid abundant supplies.

Meanwhile, the output of refined oil products saw month-on-month increases in March, the report said.

Gasoline and diesel exports stood at 510,000 tonnes and 400,000 tonnes in March, respectively, marking record highs in recent years and easing pressure on supplies.

The report shows that major retail sales of gasoline in March contracted from February, while diesel sales recovered.