Saudi Aramco Turns Attention Back to Asia Exports

摘要

After the weekend agreement on big new Opec-plus production cuts, Saudi Arabia has slashed its official selling prices for May loadings of crude oil destined for Asia. The deep price cuts are a sign that Saudi Aramco has shifted its focus back to Asia after competing aggressively against Russia to export more oil to Europe last month, say two market sources. China remains the lone bright spot for crude demand among the world’s major crude importers, one of them adds (IOD Apr.7’20).