Saudis Curb Oil to China, Southern Asia as Others Spared
- Two SE Asian buyers get 30% cut; overall Asia curbs at 5%-10%
- Buyers in Japan, Taiwan, S. Korea receive full February volume
Scaroni: Oil in $50-$60 Range Next Couple of Years
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Saudi Arabia was said to cut February crude sales to China and southern Asian nations while largely sparing countries including Japan and South Korea, as it curbs supply as part of a deal between OPEC and other producers.
Two Southeast Asian refiners received cuts of about 30 percent from the world’s biggest crude exporter, according to two people with knowledge of the matter who asked not to be identified because the information is confidential. Reductions to a buyer in India were about 20 percent, one of the people said.