Saudi Arabia is expected to supply full volumes of crude oil to at least four Asian buyers in June.

The country is the world’s top crude oil exporter.

As a key member of the Organisation of the Petroleum Exporting Countries (OPEC) it started easing supply cuts to buyers in May as OPEC, Russia and their allies, a group known as OPEC+, stuck to plans for a phased roll-back of oil production restrictions.

Saudi Aramco is also trimming supplies to a fifth Asia buyer in June within a permissible adjustment limit in the contract.

The seller or the buyer can adjust loading volumes. This depends on demand and shipping logistics, using operational tolerance which ranges from plus to minus 10 percent of the contracted Saudi volume.

For more information visit www.opec.org

17th May 2021