Saudi To Supply Crude To Asian Buyers

Saudi Arabia, the world’s top crude exporter, will supply full contracted volumes of crude oil to Asian term buyers in November, unchanged from October, industry sources familiar with the matter said on Thursday.

The move was expected as the OPEC kingpin has supplied full contractual volumes to most Asian buyers since late 2009.

“The supplies came to the same amount as is contracted,” one of the sources said, adding that Saudi Arabia made no changes to the buyer’s requested quantities of each crude grade.

The Middle Eastern kingdom increased the official selling prices for November to Asian buyers in line with the widening product cracks, Saudi Aramco said last week.

OSPs for lighter grades rose more than those of heavy grades, in line with the weakness in fuel oil cracks as compared with those for gasoil and naphtha.