I doubt it, who would want lubrication to be dependent upon kerosene/diesel?
Youtube is filled with vids singing the praise of this method.
I tried it once on an inboard boat engine and never again. A few seconds and I could hear a grinding schreeching sound of metal rubbing against metal.
Some car owners let their engines run on idle for several minutes in order to flush out the sludge. Doesn't sound like a good idea.
Call the Volvo headoffice in Gotherburg and ask them if they recommend such a practice for our Volvos . . .

Some drain a quart or two of the oil and add the same amount of diesel/kerosene and although this is better than pure diesel I still wouldn't do it.

Then there's the ATF proponents. Saw a vid on youtube where some person sweared by draining off a quart of oil adding a quart of ATF claiming there was nothing better in order to dissolve sludge than this method.
The vid continued after he had been driving around for two weeks.
Well,-the oil had the same light brown colour as the quart of oil he previously drained off the engine. Obviously it didn't dissolve anything or there were no sludge in the engine to dissolve.

In my opinion the best way is to use quality oil and change it often, that should be enough.