Saudi Arabia to cut oil exports in April

Saudi Arabia’s reduction in crude oil exports comes as part of output cuts by OPEC to support prices and rebalance the market. Getty

REUTERS
Updated 12 March 2019-March 12, 201900:12

State-owned Saudi Aramco’s oil allocations for April are 635,000 bpd below customers’ nominations, which are the requests made by refiners and clients for Saudi crude
Oil prices have been supported this year by output cuts by the Organization of the Petroleum Exporting Countries and its allies

DUBAI: Saudi Arabia plans to cut its crude oil exports in April to below 7 million barrels per day (bpd), while keeping its output well below 10 million bpd, a Saudi official said on Monday, as the Kingdom seeks to drain a supply glut and support oil prices.
State-owned Saudi Aramco’s oil allocations for April are 635,000 bpd below customers’ nominations, which are the requests made by refiners and clients for Saudi crude, the official said.

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