Saudi Arabia will supply the full contractual volumes to at least three customers in North Asia, sources familiar with refiners’ allocations from the world’s top crude oil exporter told Reuters on Monday. Last week, as widely expected, Saudi Arabia’s oil giant Aramco slashed the price of its flagship grade to Asia for October amid lackluster fuel demand and increased competition from crude from other regions. This was the first cut in Saudi official selling prices (OSPs) to its key export region, Asia, in four months. Asian refiners were expecting a large cut in Saudi prices, many due to two reasons. The first one is the fear that demand would not be strong with concerns of economic slowdown and flash Covid lockdowns in China as part of the “zero Covid” policy. The other one is the narrowing spread between Dubai-linked and Brent-linked cargoes, which has curbed demand for cargoes linked […]