Google+ Followers

Friday, 25 November 2016

Saudi Aramco to supply more oil to Asia in January: sources | Reuters

Saudi Aramco to supply more oil to Asia in January: sources | Reuters:
"State oil giant Saudi Aramco has agreed to supply some customers in Asia with incremental crude that will load in January, as it holds to a strategy of maintaining market share, three sources with knowledge of the matter said on Friday.

The decision by the world's top exporter to give extra oil came weeks before Saudi Aramco was due to notify customers of their monthly supply allocation. For January supplies, allocations would have been made only around Jan. 10.

By exercising flexibility to meet customers' demand, Saudi Arabia is signaling that it won't budge on market share even as it works with members of the Organization of Petroleum Exporting Countries to finalize plans for a production cut at their Nov. 30 meeting, the sources said."

'via Blog this'