China's oil stocks to stay high in Q2

China’s oil inventory is expected to stay at high levels as domestic oil consumption is estimated at 54.7-55.7 million metric tons in the second quarter, the National Energy Administration (NEA), China’s top energy regulator, said. The energy regulatory body also forecasted that the country’s apparent oil consumption in Q2 is expected to grow 5% over the same period last year as product oil output is to keep increasing during the period. (May 4, 2010)