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China International United Petroleum & Chemical Co., the nation’s largest oil trader, resumed diesel exports last month because of easing domestic demand, according to a company official.
China International, or Unipec, sold as much as 100,000 metric tons of the fuel for June loading and it hasn’t finalized its plan for July yet, said the official who asked not to be named because the information is confidential. This is the first sale this year, said the official.
China’s diesel inventories fell for a third month to 11.09 million tons as of May, according to Bloomberg calculations based on data from the official Xinhua News Agency. Stockpiles of the fuel averaged 9.34 million tons last year.
Unipec is the trading division of the nation’s largest oil refiner, China Petroleum & Chemical Corp. (600028)
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