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Saudis Curb Oil Supply to Some Buyers Post Pledged OPEC+ Cut


Saudis Curb Oil Supply to Some Buyers After Vow to Pump Less
Bloomberg
1/13/2021
Serene Cheong and Sharon Cho
© BLOOMBERG NEWS
The Gemini Star oil tanker, owned by Vela International Marine, a subsidiary of Saudi Aramco
(Bloomberg) Saudi Arabia reduced crude oil supplies to at least 11 refiners in Asia and most buyers in Europe after the kingdom volunteered to cut its production by 1 million barrels a day for February and March.
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Aramco will supply less crude as part of long-term contracts next month, giving some Asian processors 20%-30% less than they had sought, according to company officials who received the notices but asked not to be identified as the information is private. Supplies to most European refiners were also cut and one refiner that typically buys small volumes from Saudi Arabia will not get any cargoes for February. ....

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