The lost Saudi crude oil output represents about 5% of global crude supply.
SINGAPORE: Asian refiners and traders said they are expecting Saudi Arabia to import large volumes of refined oil products and curb exports of light crude oil after attacks on Saturday that forced it to shut down more than half of its oil output.
Top oil-consuming region Asia, though, can tap strategic oil reserves if necessary to cover 30 to 220 days of oil imports depending on the country, while oil product supplies are adequate for now as new refining capacity has been added this year, they said.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
