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Saudi Aramco to Supply Full Volumes to Some Asian Buyers July: Reuters Sources

OIL

Saudi Aramco has told at least five customers in North Asia they will receive full nominated volumes of crude oil in July according to Reuters sources.

  • Some Chinese state-owned refiners have requested lower supply in July, according to three of the sources.
  • Saudi raised it’s OSP’s for all grades to Asia for July loading cargoes.
  • Chinese imports of Saudi crude is expected to stay around the same as June as other refiners ask for more supply.
  • Saudi has pledged to drop its crude production to 9mn bpd in July from around 10mn bpd currently.

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