Saudi Aramco is expected to deliver full crude oil requirements of its customers in India and Southeast Asia as well as four of its North Asian buyers for August, Reuters stated.
On the other hand, Saudi Arabia has been cutting crude exports to both Europe and the US in the light of the production cut deal by the Organization of the Petroleum Exporting Countries (OPEC) and some non-OPEC countries, such as Russia.
“For August, there is no supply cut, even for heavier grades, such as Arab Medium and Heavy crude, to south Asian customers”, a source familiar with the matter stated, according to The Times of India.
It worth noting that Saudi Arabia has boosted its market share in Japan in the first half 2017. Hence, Japan’s imports of Saudi crude between January and June reached 1.3mb/d, increasing by 7.7% compared to 2016.