OREANDA-NEWS. February 24, 2011. China's gasoil inventory climbed to a normal level of 9.14-mil mt by the end of January, up 25% from one month earlier, C1's data showed.

The growth rate was the highest since January 2010, boosted by weak demand during traditionally slack season and high operating rates of major refineries amid draught and coming spring ploughing. The current inventory was able to meet demand for about 21 days, which is the level recorded in the middle of 2010, C1 calculated.

China's gasoil inventory started to fall from June 2010 while stepping up in December and January, indicated C1's record. China held 6.96-mil mt of gasoline inventory end January, down 1.4% on month. The decline was mainly due to rising demand before the Spring Festival. Kerosene inventory built 1.3% to 1.64-mil mt. Gasoline and kerosene inventories were both equal to the levels in mid-2010.