Sources: Saudi Aramco to Supply Full Quantities of Oil to Customers in Asia During September

Multiple sources stated today, Friday, that Saudi Aramco has informed customers in North Asia that they will receive the full quantities of crude oil they ordered for September, even as the Kingdom extends its voluntary production cut. The largest oil-exporting country in the world announced last week that it would extend the production cut by one million barrels per day for another month into September, and noted that the cut could be extended further or increased. Aramco's CEO Amin Nasser said on Monday that the company's supplies to customers remain sufficient. Three trading sources reported that Chinese refineries did not request reduced supplies for September shipments despite the rising official selling prices set by Aramco. According to their estimates, Chinese buyers will receive between 50 to 52 million barrels of Saudi crude, significantly more than the approximately 38 million barrels in August. Some Chinese refineries requested less supply from Aramco over the past three months due to high oil prices, while increasing purchases from the Americas and West Africa.