11-05-2016

Saudi Arabia to keep June crude supply to Asia steady

crude

Saudi Arabia, the world’s top crude exporter, will supply full contracted volumes of crude oil to at least two Asian term buyers in June, unchanged from May, industry sources familiar with the matter said on Tuesday.

The move was expected as the OPEC kingpin has supplied full contractual volumes to most Asian buyers since late 2009.

State-run Saudi Aramco last month cut Arab Heavy crude supply to at least a few term buyers for May, while keeping the overall contractual volumes unchanged likely due to oilfield maintenance. But one of the buyers said Aramco restored normal volumes of Arab Heavy crude for June.

Source: Reuters

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