China's distillate inventories fall 3.9% on month to 14.74-mil mt in Sep

China's inventories of gasoline, gasoil and kerosene amounted to 14.74-mil mt as of end September, down 3.9% from a month ago, according to data released by the China National Petroleum Corporation.

Gasoline inventory was 6.21-mil mt, up 1.3% on month; gasoil dropped 8.6% to 7-mil mt; kerosene down 1.3% to 1.53-mil mt.

The build in gasoline inventory was mainly due to 10% rise in daily crude throughput of refineries affiliated to PetroChina, gasoline output ratio of which is usually high, market sources pointed out. In addition, gasoline demand dropped after the summer travel season ended, the sources believed.
However, on the contrary, gasoil stock went down amid booming demand from agriculture and fishery sectors in September, the sources said.

Because kerosene could be used to reduce pour point of gasoil, kerosene consumption normally increases in northern China in September when gasoil with low pour point will gradually become popular.