“Reuters”: Aramco provides full quantities to Asian buyers for April, but reduces supplies of Arab heavy crude

Five informed sources said on Monday that Saudi Aramco, the world’s largest exporter of crude oil, intends to meet the full contractual quantities of crude oil for most Asian buyers in April, but will reduce supplies of Arabian Heavy crude to Chinese and Indian customers due to maintenance work in the oil fields.

According to Reuters, the reduction comes after the Organization of the Petroleum Exporting Countries (OPEC) and its allies, or what is known as OPEC+, decided at the beginning of this month to extend the voluntary reduction in oil production by 2.2 million barrels per day in the second quarter of this year.

Aramco notified Asian customers of their crude allocations in April, days after the official selling prices for the same month were published.

Two of the sources said that Saudi oil allocations to China are estimated at 47.5 million barrels for the month of April (1.58 million barrels per day), which is similar to the 47 million barrels allocated in March.

The sources, who requested anonymity because they were not authorized to speak to the media, said that at least one Chinese buyer requested to buy more Arab medium and heavy crude, but his request was not met.

According to one source, at least one buyer in India received the full quantities it ordered, although there was a adjustment in grades as supplies of heavy crude fell.

It was not immediately known the extent of the reduction in supplies of Arab Heavy crude or the oil fields that will be closed for maintenance.