According to Platts Energy Information Singapore Singapore November 16th, Standard & Poor's Global Platts Energy Information calculated based on the latest official data on Thursday, China ’s crude oil inventories fell by 27.41 million barrels in October from the previous month. This is the first time that China's crude oil inventories have fallen in the past year, mainly because China's crude oil imports in October hit its lowest level in a year as domestic refinery processing capacity increased.

      The previous decline in China's monthly crude oil inventories occurred in October 2016, when crude oil inventories fell by 18.32 million barrels.

      Analysts said that China ’s crude oil inventories are unlikely to increase significantly in November, as refinery processing volumes are expected to remain high.

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