Saudi Arabia Expected to Meet Asia Oil Demand in Full Next Month
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Saudi Arabia, the world’s largest oil exporter, looks set to meet demand from Asian refiners in full next month -- suggesting the world’s top buying region will be spared from the kingdom’s output cuts.
At least five refiners in the region got all the November-loading crude they asked for next month, according to people familiar with the matter. Saudi Aramco isn’t ceding its share of that market, another person with knowledge of the situation said. Several traders also said they saw no signs of cuts to Asia, the destination for about 60% of the Middle East nation’s shipments.