Asia’s oil refiners are adjusting their shipping arrangements for loading Qatari crude to side-step the diplomatic spat between Doha and other Middle East nations, including top Gulf oil producers Saudi Arabia and the United Arab Emirates. Buyers are chartering extra ships, loading oil from Saudi Arabia and the UAE before Qatar, or lifting a combination […]
Day: July 12, 2017
Saudi cuts August oil exports to lowest level to meet domestic demand
Saudi Arabia will cut crude oil shipments to its customers in August by more than 600,000 barrels per day to balance the rise in domestic consumption during the summer, while staying within its OPEC production commitment, a Saudi industry source said. “There is strong demand for our crude but we are sticking to our OPEC […]