China's crude oil inventory grew by 1.2 percent month-on-month in January, according to figures issued by Xinhua08.com Wednesday.
The country's output of crude oil remained high, and net imports hit a record high last month, causing a slight increase in the inventory over the same period. However, the gain was somewhat offset by the soaring demand of crude oil, according to a senior analyst at Xinhua08.com.
The figures showed demand for gasoline is growing, while demand for diesel is dropping.