Saudi Arabian Oil Co., the world’s largest crude exporter, will supply full volumes in August to customers in Asia and Europe, unchanged from this month, according to refinery officials with knowledge of the matter.
Saudi Aramco, as the company is known, will provide 100 percent of crude cargoes sold under long-term contracts, said seven Asian and three European refiners, who declined to be identified because the agreements are confidential.
The kingdom in March exported 710,000 barrels a day of Arab Light and Extra Light blend, 90,000 barrels of Arab Medium, and 70,000 barrels of Arab Heavy grade to European members of the Organization for Economic Cooperation and Development except Hungary, the International Energy Agency said in its monthly oil market report on June 13.
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