Aramco to Supply Contracted Oil Quantities to Customers in Asia

Several informed sources told Reuters on Monday that the Saudi company Aramco has notified at least four customers in Northeast Asia that it will supply them with the fully contracted quantities of oil in May, despite the additional production cuts announced by major oil producers earlier this month. Saudi Arabia, the world's largest oil exporter, raised the prices of Arab Light crude for buyers in Asia for the third consecutive month in May after the OPEC+ group announced it would cut production by 1.16 million barrels per day starting in May until the end of the year.