Sunday, February 5, 2023
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA
Oil Market News Today
Advertisement
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
Oil Market News Today
No Result
View All Result
Home Market Venezuela

Saudis Cut July Oil Supply to Some Asian Buyers by Up to 40%

June 15, 2020
in Venezuela
Saudis Cut July Oil Supply to Some Asian Buyers by Up to 40%
Share on FacebookShare on Twitter


Latest Oil MArket NewsPosts

Oil prices slip as COVID-19 case surge dents fuel demand hopes – ET

Oil extraction plant in Srinagar helps floriculturists boost their income –

Global Crude Oil Refinery Market Research Report: Know Market Dynamics,

(Bloomberg) —

Saudi Arabia reduced the amount of crude it will supply next month to seven refiners in Asia after OPEC+ agreed to extend its historic output cuts through July.

The volume of contracted oil the seven buyers will receive for July was cut by 10% to 40%, according to refinery officials who asked not to be identified as the information is private. Some South Korean processors were notified of steep curbs to their requested supply after being spared reductions last month, while three refiners in Japan will get their full volumes after their flows were trimmed in June, the officials said, signaling the kingdom’s attempt to balance the cuts.

OPEC+ agreed to a one-month extension of its cuts to help underpin the market recovery, with Saudi Arabia following the pledge to prolong curbs with big price hikes to its crude. China has led a recovery in oil demand across Asia after the easing of lockdowns, although the region’s rebound is expected to be uneven.

See also: Iraq Gets Serious on Oil Cuts By Asking Buyers to Forgo Cargoes

The cuts were widespread across the region from South Asia and Southeast Asia to some parts of North Asia, the officials said. For at least two Indian processors, supplies from Saudi will be 20%-25% lower than their nominations, they said.

Saudi Aramco declined to comment on the supply allocations.

The reductions by Aramco were focused on heavier varieties for July-loading cargoes, said the refinery officials. That will further tighten the flow of medium-sour grades after Iraq, a habitual laggard on cuts, implemented additional curbs amid stricter policing of compliance by OPEC+, and as Venezuela’s volumes plunged to the lowest since 1945 due to U.S. sanctions.

At least three European oil refiners asked for the smallest possible volumes, according to people with knowledge of the matter. Saudi Aramco agreed to the requests of two of them, while it was unclear what the response has been to the third.

(Updates with European responses in final paragraph.)

For more articles like this, please visit us at bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

©2020 Bloomberg L.P.



Read More: Saudis Cut July Oil Supply to Some Asian Buyers by Up to 40%

Tags: AsianBuyerscutJulyoilSaudisSupply

Related Posts

Oil prices slip as COVID-19 case surge dents fuel demand hopes – ET
Venezuela

Oil prices slip as COVID-19 case surge dents fuel demand hopes – ET

by Oil Market
July 30, 2020
0

MELBOURNE: Oil prices dipped on Thursday as a surge of coronavirus infections around the globe raised fears a rebound...

Read more
Oil extraction plant in Srinagar helps floriculturists boost their income –
Venezuela

Oil extraction plant in Srinagar helps floriculturists boost their income –

by Oil Market
July 29, 2020
0

Srinagar (Jammu and Kashmir): The modern oil extraction plant set up in Srinagar has given a boost to floriculture,...

Read more
Global Crude Oil Refinery Market Research Report: Know Market Dynamics,
Venezuela

Global Crude Oil Refinery Market Research Report: Know Market Dynamics,

by Oil Market
July 27, 2020
0

The Global Crude Oil Refinery Market 2020 Report Covers the in-depth valuable analysis on Crude Oil Refinery Market Size,...

Read more
The Middle Eastern influence on the world oil market | SOFREP
Venezuela

The Middle Eastern influence on the world oil market | SOFREP

by Oil Market
July 26, 2020
0

The Organization of the Petroleum Exporting Countries (OPEC), is an intergovernmental organization founded by Saudi Arabia, Kuwait, Iraq, Iran,...

Read more
June oil imports lowest in nearly nine years; none from Venezuela – ET
Venezuela

June oil imports lowest in nearly nine years; none from Venezuela – ET

by Oil Market
July 25, 2020
0

NEW DELHI: Oil imports fell in June, hitting their lowest since October 2011, as refiners curbed purchases due to...

Read more
Food Grade Mineral Oil Market 2020-2025
Venezuela

Food Grade Mineral Oil Market 2020-2025

by Oil Market
July 24, 2020
0

A new research study has been presented by Precision Market Reports (PMR) after a comprehensive analysis on Food Grade...

Read more
Next Post
Canadian Banks Hit Hard By Low Oil Prices | OilPrice.com

Canadian Banks Hit Hard By Low Oil Prices | OilPrice.com

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Today Oil Markets

Oil Search Slashes a Third of Jobs, Pledges More Senior Roles for PNG

Oil Holds Steady as Virus Concerns Weigh on Demand Hopes

3 years ago
Global Transmiion Oil Pump Market 2020

Global Transmiion Oil Pump Market 2020

3 years ago
Global Diesel Fuel Market 2020-2024 | Increasing Oil and Gas E&P

Global Diesel Fuel Market 2020-2024 | Increasing Oil and Gas E&P

3 years ago
Latest News 2020: Oil Tank Cleaning Market by Coronavirus-COVID19 Impact

Trending News: Used Cooking Oil (UCO) Market Overview and Forecast Report

3 years ago
Covid-19 killing oil workers at an unparalleled pace in Mexico

Covid-19 killing oil workers at an unparalleled pace in Mexico

3 years ago
The Oil And Gas Situation In Guyana Goes From Bad To Worse

The Oil And Gas Situation In Guyana Goes From Bad To Worse

3 years ago

Oil Market

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Construction of Dangote oil refinery Africa’s largest nears completion

Construction of Dangote oil refinery Africa’s largest nears completion

July 31, 2020

Russia Oil Market

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

July 29, 2020
Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

July 28, 2020

Europe Oil Market

Oil rises further from 3-week lows, but headwinds loom amid pandemic

Oil rises further from 3-week lows, but headwinds loom amid pandemic

July 31, 2020
Shell posts $18billion loss in second quarter – News for the Oil and Gas

Shell posts $18billion loss in second quarter – News for the Oil and Gas

July 30, 2020
Path to net zero: European oil majors outpace US companies on climate goals

Path to net zero: European oil majors outpace US companies on climate goals

July 29, 2020
Oil price holds near four-month high amid bearish signals – News for the

Oil price holds near four-month high amid bearish signals – News for the

July 28, 2020
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA

© 2020 MarketFor Oil.com

No Result
View All Result
  • Home
  • Market
    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas

© 2020 MarketFor Oil.com