WTI bounces to $66 mark as Saudi cuts April crude supply for Asian refiners

Saudi Arabia announced that it has slashed crude supply to at least four north Asian buyers for its April-loading, Reuters reports on Friday, citing refinery sources.

Additional insights

“Chinese refiners received a small cut in their Saudi supply, while the reduction in volumes for Japanese buyers was between 10% and 15%.”

“The Kingdom will meet the normal monthly requirements of Indian refiners.”

“Saudi Aramco is also commissioning its 400,000-bpd Jizan refinery in the southwest of the country which may have reduced its exports.”

more to follow ....