Saudi Arabia has cut its term crude supplies for next month to refiners in India and Southeast Asia.
The move is being made as it looks to comply with an OPEC deal.
Saudi Aramco reduced February term supplies of mainly heavy crude to Indian refiners Reliance Industries and Hindustan Mittal Energy Ltd (HMEL) as well as to Malaysia’s Petronas.
Aramco has also cut supplies to another southeast Asian buyer for a second month in February, according to a source.
Recommended for you
Read the latest opinion pieces from our Energy Voice columnists
- OPEC’s plan for the future is to resurrect the past
- Opinion: Shell may hold clue to future in corner of Cobham
- Opinion: How can the government reboot the capacity market?
- Opinion: Service sector could do with a ‘long-term champion’ at government level
- Opinion: It’s time to get excited about the North Sea again