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FINANCIAL NEWS
Saudi Arabia to limit oil volumes to Asia in July, cuts U.S. volumes
13 Jun 2017
(MENAFN) Saudi Arabia will limit volumes of crude to some Asian buyers in the coming month and extend cuts in allocations to the United States.
Furthermore, Aramco would supply full contracted crude volumes to 5 Asian buyers in N. Asia and lower volumes for some customers in India, China and S. Korea.
Last month, Aramco notified Asian refiners that it would cut oil supplies to Asia by almost 7mn barrels in June, its first cuts for that region since OPEC-led output cuts took effect in Jan.
Additionally, crude allots to the U.S. have been lowered but Saudi Aramco kept volumes steady to Europe compared to June, while volumes to the U.S. would be cut by almost 35 percent.
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MENAFN1306201700450000ID1095555030
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