Asian Buyers Scramble For Alternative Oil Supplies After Saudi Price Hike ...Middle East

OILPRICE - Economy
Asian Buyers Scramble For Alternative Oil Supplies After Saudi Price Hike
source : OILPRICE ( Middle East ) () 65
Several buyers in Asia are looking to buy spot oil cargoes from Russia, Africa, Brazil, or the United States after the world’s top crude exporter, Saudi Arabia, unexpectedly raised its official selling prices for its crude going to Asia in July.   At least three refiners in Asia are looking to nominate lower volumes of Saudi crude for next month – as per the contract allowance – and boost purchases from outside Saudi Arabia, including cheaper spot cargoes from Russia, sources with knowledge of the refiners’ buying strategies…

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