China may shrink oil exports in April because of blockades in countries around the world caused by the coronavirus pandemic, which are causing a sharp fall in demand, according to S&P Global Platts, citing data from traders, analysts, and refiners.

China’s state-owned oil giant Sinopec forecasts limited exports of petroleum products in the second quarter of the year compared to the same period in 2019 as the number of those wishing to buy on the international market is declining.

One of the company’s units, Guangzhou Petrochemical, shrunk its jet fuel exports by another 70% to about 30,000 mt in April from the normal level of 100,000 mt per month, Sinopec reported.

At the same time, PetroChina reduced exports of oil and petroleum products for April compared to March. Exports also shrunk by two of the company’s divisions – Liaoyang Petrochemical halves exports by up to 60,000 mt, while Petrochemical Corp shrinks exports by 22% to 350,000 mt.

Moreover, the subsidiary of PetroChina Guangxi Petrochemical, which exports up to 370,000 mt per month of oil and petroleum products, plans to suspend exports and extend the closed-door period. The refinery exported 290,000 mt and 325,000 mt of petroleum products in February and March, respectively.

Sinochem Quanzhou Petrochemical also warned that it is reducing exports of its products.

A Singapore-based market observer said that China’s exports of gasoline exports slowed in the second half of March to about 760,000 mt compared to 950,000 mt reported in the first half of the month, suggesting a downward trend begins with the spread of the pandemic worldwide.