Saudi Aramco’s major crude oil buyers in Asia have received full term allocations for Saudi crude oil loading in May, even as Saudi Arabia continues to reduce production as part of the OPEC+ agreement. Receive daily email alerts, subscriber notes & personalize your experience. Register Now May allocations for key buyers in Asia were met and traders said they were not aware of any cuts. “We are receiving full allocation [from Saudi Aramco],” said a trader with a North Asian refiner. Some noted, however, that requests for incremental volumes were not met, similar to previous months. This is the fourth consecutive month that Aramco has committed to fulfilling Asian term volumes while simultaneously cutting production as part of an OPEC-and-allies agreement. Asian refiners form a major demand center for Saudi Arabia crude exports, with about 69% of its total exports in 2017 flowing to Asia, according to […]