Saudi Arabia will supply full contracted volumes of crude to at least five Asian customers in July, according to Reuters.
State oil giant Saudi Aramco will also supply full volumes of heavy crude for a third straight month, despite cutting supplies for this grade earlier this year, an industry source with knowledge of the matter has told Reuters.
The normalisation of Saudi oil supplies to Asia comes as the OPEC kingpin seeks to protect its market share, even as OPEC and some non-OPEC producers agreed to extend supply cuts until March next year.
Aramco has also separately agreed to provide additional crude on top of contracted volumes at the request of one of the buyers. Other buyers did not seek extra supplies after Aramco raised prices more than expected.
Aramco last month notified at least two Asian refiners of its first cuts in crude allocations for regional buyers since OPEC-led output reductions took effect in January.
