Saudi cuts April crude for some Asian refiners, maintains India supply: Sources
Top oil exporter Saudi Arabia has cut the supply of April-loading crude to at least four north Asian buyers by up to 15%, while meeting the normal monthly requirements of Indian refiners, refinery sources told Reuters on Friday.
Saudi Arabia’s reduction in supplies come as the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, decided earlier this month to extend most of its supply cuts into April.
Saudi Arabia has pledged to continue with an extra 1 million barrels per day voluntary output cut for a third month in April.
Chinese refiners received a small cut in their Saudi supply, while the reduction in volumes for Japanese buyers was between 10% and 15%, the sources said.
