Saudi not set to sell more for Feb despite $100 oil

SINGAPORE – Saudi Arabia is unlikely to offer extra crude for February to Asian buyers, even after oil hit $100 last week, as most refiners have little need and ability to process additional heavy sour crude, refining sources said.

The kingdom raised term exports to Asia by a tenth for November to full contracted volumes after it convinced other OPEC members to boost daily output by 500,000 barrels from Nov.1, in response to a jump in prices past $80 a barrel for the first time in September.


OPEC