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Saudis Curb Oil Supply to Some Buyers After Vow to Pump Less Bloomberg 1/13/2021 Serene Cheong and Sharon Cho © BLOOMBERG NEWS The Gemini Star oil tanker, owned by Vela International Marine, a subsidiary of Saudi Aramco (Bloomberg) -- Saudi Arabia reduced crude oil supplies to at least 11 refiners in Asia and most buyers in Europe after the kingdom volunteered to cut its production by 1 million barrels a day for February and March. Popular Searches Aramco will supply less crude as part of long-term contracts next month, giving some Asian processors 20%-30% less than they ...

Supply cuts reportedly were focused on heavier grades such as Arab Medium and Arab Heavy.

Premium Content Middle East Oil Prices Rise As Asian Demand Recovers By Viktor Katona - Dec 13, 2020, 7:00 PM CST As the United States and Europe falter under the weight of ever-increasing coronavirus cases and a general lull in markets, the health of the Asian crude market has arguably pulled crude prices and differentials away from the adverse ramifications of second wave coronavirus. China, India, Japan, South Korea; all of them are increasing their crude intake, increasing refinery runs and riding the waves of healthy refining cracks. At the same time, the early December OPEC+ ...