A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov
SINGAPORE, Jan 11 (Reuters) – Saudi Aramco (2222.SE) has notified at least five Asian buyers that it will supply full contractual volumes of crude oil in February, same as January, sources with knowledge of the matter said on Tuesday.
The full supplies came after the state oil giant cut February official selling prices to Asia to their lowest in three months. read more
The world’s top oil exporter has been maintaining steady supplies to its key consuming region since the Organization of the Petroleum Exporting Countries and their allies, a group known as OPEC+, eased supply cuts from August.
OPEC+ decided earlier this month that it will continue to increase output by 400,000 barrels per day (bpd) in February.
Saudi Arabia’s crude exports in October rose for a sixth straight month to 6.833 million bpd, the highest since April 2020, the Joint Organisation Data Initiative (JODI) said in December. read more
Saudi Aramco could not be immediately reached for comment.Reporting by Florence Tan; Editing by Christopher Cushing and Tom Hogue
This article was originally published by Reuters.
Keturah founder says industry needs to work together to catch up with government vision, market…
End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a…
In real estate sales, Dubai South ranked as best-performing area for fifth successive month Dubai, UAE,…
Strength of demand goes beyond individual high value deals as developers record 244 off plan…
Discussions focused on motorsport development, increased participation, road safety and the leadership of FIA Member…
Dubai, UAE, 26th July, 2026: The Fédération Internationale de l'Automobile (FIA) and Formula One Management…