Monday, June 11, 2007

Saudi Arabia Cuts Oil Supplies to Asian Refiners for Ninth Month in July

(Bloomberg) -- Saudi Aramco, the world's largest
state oil company, will cut crude oil exports to Asian refiners
for a ninth month in July, refinery officials said.

The Dhahran, Saudi Arabia-based oil producer will reduce
supplies of its Arab Light and Arab Heavy crude to refiners in
Japan, China and South Korea by between 9.5 percent and 10
percent below volumes set out in annual supply contracts, said
four refinery officials who received notices from the company and
asked not to be identified because of confidentiality agreements.


Read more at Bloomberg Energy News

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