US EditionSaudi Aramco Cuts Oil Supply to Asia for Second Month in April
Saudi Aramco limits crude oil exports to Arab Light grade from Yanbu port amid Strait of Hormuz disruptions, cutting shipments to 4.355 million barrels per day in March, Kpler data show.
- On Monday, Saudi Aramco cut crude supply to Asian buyers for a second month in April, notifying term customers they will receive only Arab Light loaded at Yanbu, Reuters reported.
- To avoid passage through the Strait of Hormuz, Saudi Arabia is redirecting barrels to Yanbu port, but vessel-tracking shows even record shipments cannot fully offset lost supply.
- Kpler data show Saudi Arabia exported 4.355 million bpd so far in March, down from 7.108 million bpd in February, while Sinopec plans to load about 24 million barrels from Yanbu this month; loadings were briefly disrupted on Thursday at SAMREF refinery.
- Saudi Arabia is estimated to have already slashed crude production by over 2.5 million bpd as export routes tighten, and Saudi Aramco could not be immediately reached for comment, Reuters said.
- Yanbu is the only currently open export route for Saudi Arab Light crude as the Kingdom scrambles to boost loadings, while concern remains over the Bab el-Mandeb Strait after Iran-aligned Houthis targeted vessels two years ago.
15 Articles
15 Articles
Saudi Aramco cuts oil supply to Asia for second month in April
Saudi Aramco, the world's top oil exporter, has cut crude supply to Asian buyers for a second month in April, two sources with knowledge of the matter said on Monday, after the U.S.-Israeli war with Iran disrupted trade via the Strait of Hormuz.
Aramco Cuts Crude Shipment To Asian Region For Second Month In April
Oil giant Saudi Aramco is reported to have cut crude supply to Asian buyers for a second month in April. The world’s largest oil exporter is supplying only Arab Light crude exported from the Red Sea port of Yanbu to term customers in April
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The post Saudi Aramco’s Strategic Asia Oil Supply Cuts Deepen Market Uncertainty In April appeared on BitcoinEthereumNews.com. Saudi Aramco’s Strategic Asia Oil Supply Cuts Deepen Market Uncertainty In April Home Forex News Saudi Aramco’s Strategic Asia Oil Supply Cuts Deepen Market Uncertainty in April Source: https://bitcoinworld.co.in/saudi-aramco-asia-oil-supply-cuts-april/
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