Kingdom of Saudi Arabia intends to supply full volumes of crude oil to most Asian refineries in June, in a step followed the OPEC members decision to ease supply cuts to buyers in May  Reuters reported, citing people with knowledge of the matter

Meanwhile, Saudi Aramco is reducing its supplies to another Asian buyer according to the permissible adjustment in the contract. The contract states that the buyer can adjust loading volumes based on demand and shipping logistics within ranges from plus to minus 10% of the agreed volume.

Per the sources, fuel demand in India and Japan was decreased as a result of covid-19 lockdowns which reduced the crude demand of those refiners.