Saudi Arabia’s oil giant Aramco will be sending 4 million barrels per day (bpd) of its crude to Asia in May, down from the full contractual volumes of 6 million bpd, a Saudi source with knowledge of Aramco’s plans told Reuters on Friday. “The full contractual volumes to Asia are about 6 million bpd. What Aramco has allocated is what was nominated, which is around 4 million bpd,” the Saudi source told Reuters. Earlier on Friday, other sources in Saudi Arabia had told Reuters that Saudi Aramco would be sending the full 6 million bpd contractual volumes to its customers in Asia. The lower allocations, due to the nominations of around 4 million bpd, as per the Saudi source, suggest, on the one hand, that Saudi Arabia is lowering its oil supply to the market in line with its commitment to the new OPEC+ deal. On the other hand, […]