Saudi Aramco Will Supply Term Crude Customers in Asia with Their Full Contractual Volumes in November

摘要

Following the decision taken by OPEC to raise its crude oil production ceiling by 500,000 b/d with effect from 1 November, Saudi Aramco has informed its Asian term customers that it will supply them with their full contractual volumes this month, as against 90% in October. Saudi Arabia's planned crude exports in November are thus due to rise by about 350,000 b/d. That is virtually equivalent to the increase in its OPEC production quota, which has been raised to 8,943,000 b/d from 8,616,000 b/d before. In 2006 countries in the Asia and Far East region accounted for 56.1% of total Saudi crude oil exports (AOG, 16 Oct., 2007).