Saudi cuts Q4 oil supplies to Asia, Iran exports more

SINGAPORE: Saudi Arabia cut oil exports to its three largest Asian customers by nearly 4% in the fourth quarter against the third, while Iranian shipments rose to near year-ago levels, calculations based on official data showed.

The Saudi cuts of a total 88,000 barrels per day (bpd) support other evidence showing compliance with Opec curbs that came into force on November 1.


The Iranian shipments indicate that refiners in South Korea and China have taken up supplies rejected earlier this year by Japan.

Japan, South Korea and China together imported some 2.362mn bpd of Saudi crude during last quarter, or about a third of the kingdom