Saudi Arabia Cuts June Oil Exports To Asia

Saudi Arabia’s oil giant Aramco has slashed by up to 30 percent its crude oil allocations to at least three buyers in Asia for June, compared to what customers had nominated, sources at refineries told Reuters on Thursday. The move by OPEC’s largest producer and the world’s top exporter signals that Saudi Arabia is trying to tighten the market in Asia, where demand has started to pick up after lockdowns were eased. Last week, Saudi Aramco raised the price for all its crude oil grades to all regions for June in a move that analysts…