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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