Some Asia Oil Buyers Want More Saudi Crude Even After Big Hike
- At least two refiners will seek additional volumes: officials
- Refining margins strong on fuel demand rebound, tight market
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Some Asian oil buyers are planning to seek more crude from Saudi Arabia, even after the world’s biggest exporter raised prices by more than expected for the region.
At least two refiners intend to ask for more July-loading volumes, according to company officials who asked not to be identified. Across Asia, most long-term customers of Saudi Arabia are expected to take their full contracted supply as refining profits have surged, said traders. Barrels from other regions such as the US and West Africa are also more expensive, they added.