Saudi Aramco told Asian refiners it will suspend a supply flexibility clause – known as operational/lifting tolerance – from January until further notice – sources.
* Aramco tells customers the move is in line with the Saudi government’s decision to reduce output as part of OPEC supply cuts.
* Operational/lifting tolerance usually allows customers to request 5-10 percent more crude than the volumes allocated by Aramco in case they need more oil.
* Last week, Saudi Aramco told its U.S. and European customers it will reduce supply from January.
* Reduction of supply to Asia is expected to be smaller than to the United States or Europe.
Source: ReutersPrevious Next