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Asian refiners receive full Saudi crude allocations for May

From spglobal.com

Saudi Aramco's major crude oil buyers in Asia have received full term allocations for Saudi crude oil loading in May, even as Saudi Arabia continues to reduce production as part of the OPEC+ agreement. May allocations for key buyers in Asia were met and traders said they were not aware of any cuts. "We are receiving full allocation [from Saudi Aramco]," said a trader with a North Asian refiner. Some noted, however, that requests for incremental volumes were not met, similar to previous months. This is the fourth consecutive month that Aramco has committed to fulfilling Asian term volumes while ... (full story)

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  • Category: Fundamental Analysis