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Saudis Are Said to Cut September Oil Sales to Prized Asia Market

  • Sept. allocations across SE, S. Asia cut by 1 million barrels
  • Refiner in North Asia gets 10% cut versus nominated volumes
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Saudi Arabia is said to have cut crude sales for next month to some buyers in the world’s biggest oil market, limiting sales to prized buyers as part of its pledge to curb exports and shrink a global glut.

State-run Saudi Arabian Oil Co. will supply lower volumes of crude than the amount some Asian customers requested for September, with the cuts spanning across grades, said people with knowledge of the matter. Those reductions totaled 1 million barrels across South Asia and South East Asia, said one of the people, who asked not to be identified because the information is confidential. One processor in North Asia got 10 percent less than what it asked for, another person said.