Moneycontrol

Budget 2021

Associate Partners:

  • SMC
  • Samsung
  • Volvo

Moneycontrol

Budget 2021

Associate Partners:

  • SMCSamsungVolvo
Webinar :Join an expert panel for a webinar on Smart investments for a secure retirement January 28, 2021. Register now!
you are here: HomeNewsWorld

Saudi Aramco cuts February crude supply to some Asian refiners: Sources

The step comes after Saudi Arabia pledged additional voluntary output cuts of 1 million barrels per day (bpd) in February and March under a deal between the Organization of the Petroleum Exporting Countries and its allies including Russia, a group known as OPEC+.

January 13, 2021 / 10:13 AM IST
Delay in Aramco deal | Due to unforeseen circumstances and COVID-19, the deal with Saudi Aramco has not progressed as per the earlier timeline. However the company has been approached by global companies for strategic partnerships with the petrochemicals business. Potential partnerships will help build competitive manufacturing capabilities. (Image: Reuters)

Delay in Aramco deal | Due to unforeseen circumstances and COVID-19, the deal with Saudi Aramco has not progressed as per the earlier timeline. However the company has been approached by global companies for strategic partnerships with the petrochemicals business. Potential partnerships will help build competitive manufacturing capabilities. (Image: Reuters)

Top oil exporter Saudi Arabia has cut supplies of February-loading crude by 10% for at least two Asian buyers while meeting requirements of at least three others, several refinery and trade sources with knowledge of the matter said on Wednesday.

The step comes after Saudi Arabia pledged additional voluntary output cuts of 1 million barrels per day (bpd) in February and March under a deal between the Organization of the Petroleum Exporting Countries and its allies including Russia, a group known as OPEC+.

Most OPEC+ producers will hold production steady in the face of new coronavirus lockdowns.
Reuters
first published: Jan 13, 2021 10:00 am

stay updated

Get Daily News on your Browser
Sections