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FINANCIAL NEWS
Saudi Arabia to reduce crude oil allots by 350.000bpd
10 Sep 2017
(MENAFN Saudi will cut crude oil collections to its customers worldwide in Oct by 350.000 barrels per day, as proclaimed an industry source.
Moreover, the cuts in allots are in line with Saudi’s commitments to the OPEC-led supply reduction pact, under which the top oil exporter is needed to cut 486.000bpd.
Additionally, the deepest cuts in Oct were made to main oil firms where supplies were cut by 225.000bpd, whereas allots to customers in Europe were lower by 70.000bpd.
In more details, basic indications show that exports to the U.S. in the cited month will be lower than 600.000bpd.
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MENAFN1009201700450000ID1095839582
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