Saudi Arabian Oil Co. will supply full contracted volumes of crude to Asian refiners in June, according to refinery officials.
Saudi Aramco, as the company is known, will provide 100 percent of cargoes sold under long-term contracts for a 19th month, according to refiners in Thailand, Malaysia, China and Japan who requested anonymity, citing confidentiality agreements with the Middle East’s biggest producer.
Saudi Aramco’s full export allocation comes before a June 8 meeting of the Organization of Petroleum Exporting Countries in Vienna. The group, which produces about 40 percent of the world’s crude, decided on Dec. 11 to leave output quotas unchanged for the seventh time since 2008.
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