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Saudi Sends Full Contractual Crude Volumes to Asia Buyers in July

OIL

Saudi Aramco gave full requested contractual crude supplies to at least six customers in Asia for July according to Bloomberg sources.

  • China’s imports from Saudi are stable in July versus June with at least two refiners nominated lower volumes but three others nominated higher.
  • Saudi Arabia cut production targets by 500kb/d from May as part of the additional voluntary OPEC+ cuts and have pledged a further 1mbp/d cut for July.

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