Sources: Saudi Aramco will continue to supply oil to buyers in Asia

MOSCOW, 10 Oct – PRIME. Saudi Aramco has told at least seven buyers in Asia that oil deliveries in November will be carried out in full, stipulated by the contracts. This is reported by Reuters, citing informed sources.

Aramco representatives were not available for comment.

Buyers in Asia will receive oil in full, despite the OPEC+ alliance’s decision last week to cut production by 2 million barrels per day.

Saudi Energy Minister Abdulaziz bin Salman said the actual production cut would be 1-1.1 million barrels per day. Saudi Arabia, the United Arab Emirates and Kuwait will bear the brunt of the decline in production, analysts said, as production in other OPEC+ countries already lags behind target levels.

FGE expects Saudi oil production to fall by about 550,000 bpd in November from the previous month.

In addition, Saudi Arabia, the world’s largest oil exporter, has largely held its oil prices to Asia unchanged, despite expectations of higher prices. Aramco is committed to maintaining its market share in the region.