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Several Asian refiners to receive full Saudi crude allocation in February -sources

Several Asian refiners to receive full Saudi crude allocation in February -sources

FILE PHOTO: A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov

SINGAPORE :Saudi Aramco 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.

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.

Saudi Aramco declined to comment.

(Reporting by Florence Tan; Editing by Christopher Cushing and Tom Hogue)

Source: Reuters

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