Aramco Will Supply Full Crude Quantities to Asian Refineries

Saudi Aramco has informed some customers in Northeast Asia that it will supply them with all the specified crude oil quantities for August, while demand from China has declined again. Saudi Arabia will extend its production cut of one million barrels per day for another month, until August, and has raised the prices of most crude types sent to Asian customers for the second consecutive month. China's purchases of Saudi crude hit a low level in June and July as refineries sought cheaper alternatives through the spot market following the rise in Saudi oil prices.