SINGAPORE: Saudi Arabia’s state-owned oil company Saudi Aramco will reduce its August-loading shipments of medium and heavy crude grades to at least six Asian buyers, several sources familiar with the matter said on Monday.
Buyers in China, Japan, South Korea, Taiwan and India were notified by Aramco over the weekend about the supply cuts, the sources said. This is the fourth month in a row the company is cutting shipments for heavier grades.
