Bloomberg: Saudi Arabia reduces oil supplies to Europe and Asia

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Reuters

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Bloomberg reported that Saudi Arabia has reduced oil supplies to at least 9 buyers in Europe and Asia starting next month, according to the agency citing representatives of buyers who were notified in this regard.

According to the Economic Agency, some refineries in Asia will receive less oil from Aramco next month, as part of long-term contracts, adding that some Asian refineries will receive 20-30% less oil.

Also, a European refinery company that usually buys small quantities of “Aramco” will not receive any shipments in February.

Saudi Aramco had raised its oil prices to buyers in the United States and Asia at the beginning of this month.

A few days ago, the Saudi Energy Minister, Prince Abdulaziz bin Salman Al Saud, stated that the Kingdom will implement in the months of February and March the coming additional voluntary cuts in oil production amounting to one million barrels per day.

Source: “Bloomberg”





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