Saudi Aramco reduces volume of crude it will supply to Asia – Reuters
- 13th July 2020
- Posted by: Hakeem
- Categories: Commodities, FUNDAMENTAL ANALYSIS
Citing four unnamed sources, Reuters reports that the world’s largest oil exporter, Saudi Arabia’s Aramco, has cut August heavy crude supply for some Asian refiners.
The cuts are at least four buyers in Asia.
The cuts are mainly for Arab heavy crude.
Despite the supply cut news, the black gold fails to benefit, with the US oil down 0.80% to test the 40 mark while Brent oil drops below $43.