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Aramco Notifies North Asian Buyers of Full Contractual Crude Volumes


Saudi Aramco has notified at least four North Asian buyers that it will supply full contractual crude volumes to them in December according to Reuters sources.

  • Chinese buyers have slightly reduced nominated volumes from Saudi for December to around 46mn bbls – down from 47 million barrels for November and 50 million for October according to the sources.
  • Aramco has kept the December OSP for Arab Light to Asian customers unchanged m/m after a 5-month hiking cycle.
  • China is reducing its intake as domestic refinery runs slip due to oil product export quotas that are 90% used according to Kpler earlier this week. No new batch is expected for the remainder of this year.

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