China’s crude oil stocks fell for the first time in 12 months in October — by 27.41 million barrels from the month before — as crude imports hit a one-year low amid strong throughput at domestic refineries, S&P Global Platts calculations based on latest official data showed Thursday. The last time China saw a draw in monthly crude stocks was October 2016, of 18.32 million barrels. Stocks subsequently rose each month until a 20.16 million-barrel build was calculated for September. Analysts said the country was unlikely to see a significant crude stock build in November amid expectations refinery throughput will remain high in the month. China does not release official data on stocks. Platts calculates China’s net crude stocks build or draw by subtracting the official refinery throughput data from the country’s crude supply data. The latter takes into account net crude imports and domestic crude production. Latest data […]