China, the world’s No 2 oil consumer, plans to sell more diesel in April by raising exports of domestic output and reselling term supplies in the international market, traders have said.

The total sales from China in April will be around 260,000 tonnes, compared with 220,000 tonnes in March, they said.
“China is raising refinery production. Domestic demand may not be as strong as people have expected,” a Chinese state trader said.
China’s largest oil refinery, Zhenhai Refining & Chemical Co Ltd, plans to keep April crude throughput at a record of about 334,600 barrels per day (bpd), or 84 per cent of its total capacity.
China’s increased sales will help meet steady regional demand especially from Vietnam and Indonesia, even though requirements from India has been patchy in the face of tender cancellations due to high price offers, traders said.
Sinopec Corp, Asia’s top refiner, will export 140,000 tonnes for April — the highest monthly level since at least January 2004 — and resold 30,000 tonnes of term supply. It exported 130,000 tonnes and resold 30,000 tonnes of term supply in March.