Saudi Aramco has told at least five customers in North Asia they will receive full nominated volumes of crude oil in June, several sources with knowledge of the matter said on Wednesday.
Saudi Arabia, the world’s top oil exporter, cut its official selling prices for all crude grades to Asia for June-loading cargoes amid the sluggish refining margins.
The margin issues prompted refiners to seek cheaper supply from spot markets or even consider lowering operational rates.
Reuters News