RealNews

Saudi Aramco to cut oil supplies to Asia in December

Saudi Aramco, the world’s biggest state oil company, will cut crude supplies to Asia in December for the first time in at least a year as demand slumps for naphtha and diesel fuel. The Dhahran, Saudi Arabia-based producer will reduce shipments to Japan, South Korea and Taiwan by 5% to 6% below levels agreed under annual contracts, said five refinery officials, who received notices from the company. They asked not to be identified because of confidentiality agreements. Full Story

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