Saudi to keep July crude curbs steady to Asia

Saudi Arabia, the world’s top crude exporter, will maintain steady oil supplies to major Asian buyers in July as expected, sources said on Monday.

Saudi Arabia has notified five Asian term buyers in Northeast Asia it would keep curbs on contracted volumes of crude oil in July at 7-14 percent, steady from June, industry sources said.

Traders had predicted Saudi allocations would remain steady after a May agreement by the Organization of Petroleum Exporting Countries to keep output unchanged, after having agreed on cuts of up to 4.2 million barrels per day (bpd) since last September.
Reuters