SINGAPORE / NEW DELHI (Reuters) – Saudi Arabia’s major oil exporter has cut raw materials loading in February for at least three Asian buyers while meeting co-op requirements. -At least three others, several cleaning and trading sources familiar with the matter said Wednesday.
This comes after Saudi Arabia promised additional voluntary production cuts of 1 million barrels per day (bpd) in February and March under a contract between the Organization of the Petroleum Exporting Countries and its allies into Russia, an organization called OPEC +.
Most OPEC + producers will maintain stable production against new coronavirus locks.
Two North Asian refiners have received a 10% supply cut while an Indian refiner has experienced a nearly 20% reduction in volume, sources said of the state of the anonymous name.
Saudi Aramco did not immediately respond to a request for comment.
Last year, the state energy giant cut shipments until June-August to Asian term buyers to comply with the OPEC + agreement.
Reciting with Shu Zhang, Nidhi Verma and Florence Tan; Edited by Himani Sarkar