Saudi’s Report Ample Supply Reserves To Meet Asian Refiner Demand, Oil Down 5%, Aljazeera

Aljazeera:

“Saudi Arabia has said it would be able to meet oil customers’ demand from its ample storage despite attacks on its oil facilities over the weekend.

This is the first indication that its supply to top consumers in Asia – who consume more than 70 percent of total Saudi crude oil – will remain stable.

However, at least one refiner has been told of a partial change in the grade of crude it will receive.

Three state-owned refineries in India – Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Mangalore Refinery and Petrochemicals Ltd will receive full allocated volumes of Saudi crude oil in October, three industry sources told the Reuters news agency”. Read more

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