China Oil-Product Consumption Declines, Inventories Rebound

China’s daily oil-product use fell 4 percent last month from April while inventory levels rebounded, the nation’s top economic planner said.

Daily consumption of gasoline, diesel and kerosene dropped to 650,000 metric tons in May, the National Development and Reform Commission said in a statement on its website today, citing preliminary figures. Monthly consumption gained 5.2 percent from a year earlier to 20.19 million tons, with China using 5.82 million tons of gasoline, up 7.5 percent, and 12.84 million tons of diesel, up 3.9 percent, the NDRC said.