Saudi Aramco has told at least four refinery customers in North Asia they will receive full contract volumes of crude oil in December, several sources with knowledge of the matter said on Thursday.
The producer is maintaining a steady supply to Asia despite the decision by the Organization of the Petroleum Exporting Countries and allies including Russia, known as OPEC+, to lower the group's output target by 2 million barrels per day starting this month.
Saudi Arabia's Energy Minister Abdulaziz bin Salman said when the cuts were announced in October that the actual supply cut would be about 1 million to 1.1 million bpd. But the company raised the OSPs to European customers and kept the prices for clients in the United States unchanged.
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