Wire flash
Saudi Arabia Sells Nearly 100 Million Barrels of Crude to Asia to Ease Supply Crunch
Editorial responsibility
- No named human review is recorded for this page.
- Source reporting is collected, normalized, translated or condensed automatically when needed.
- Automatically published source-backed update
According to a report from Caixin (财联社) on September 24, Saudi Arabia has sold nearly 100 million barrels of crude oil to Asian buyers since mid-last week, helping to avert an impending supply shortage in the region. The oil will be transported through the Strait of Hormuz to buyers including refineries in India, Japan, and South Korea. The sale comes after the Saudi East-West Pipeline was attacked on September 10 and has not yet fully resumed operations. Saudi Aramco has taken responsibility for logistics, delivering the crude oil directly to Asian customers.
Source report
September 24 — Since mid-last week, Saudi Arabia has sold nearly 100 million barrels of crude oil to Asian buyers, helping to avert an impending supply shortage in the region.
The crude oil will be transported through the Strait of Hormuz to buyers, including refineries in India, Japan, and South Korea.
Following the attack on Saudi Arabia's East-West Pipeline on September 10, the pipeline has yet to fully resume operations. In response, Saudi Aramco has taken responsibility for logistics, arranging the full delivery of crude oil to Asian customers.
Source
财联社Eastern
Part of this Story
Saudi Arabia sells nearly 100 million barrels of crude to Asia, assumes shipping risk