Saudi Aramco to cut June oil supplies to Asia by 7 mln barrels - source

FILE PHOTO: A Saudi Aramco employee sits in the area of its stand at the Middle East Petrotech 2016, an exhibition and conference for the refining and petrochemical industries, in Manama, Bahrain, September 27, 2016. REUTERS/Hamad I Mohammed/File Photo

NEW DELHI: Saudi Aramco will cut oil supplies to Asia by about 7 million barrels in June, a source with direct knowledge of the matter said.

According to the plan, Saudi Arabia, the world’s top oil exporter, will cut supplies by a million barrels each to South East Asia, China and Korea, the source, who did not wish to be identified, told Reuters.

The kingdom will also cut supplies by a little more than 3 million barrels for India and slightly less than a million barrels for Japan, the source added. - Reuters