Over the past few months due to large-scale imports of diesel oil, the domestic inventories rose, domestic oil supply situation has been eased, and China may be suspended in February diesel oil imports.
As a major diesel oil suppliers, China Petroleum & Chemical Corporation ( "Sinopec"), said yesterday that stakeholders, in order to meet market demand, Sinopec in the past few months has increased imports, currently responsible for the supply shortage situation in the region has eased . February on the import plan, the source said, since February diesel oil imports in March-April against the supply of specific plans depends on the prevailing market demand. According to informed sources, due to market supply and demand has stabilized, Sinopec has been reduced in January of diesel oil imports.
Oil traders said that he expected the week of the Spring Festival holidays, in February diesel oil domestic demand declined slightly. Traders estimated that Sinopec and PetroChina has ordered about 700,000 tons in January delivery of diesel oil, the two companies in December last year, diesel oil imports more than 800,000 tons, a historical record.
Source: 北京商报 Niu Shunsheng Jan. 10, 2008
