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Saudi to Supply Full May Crude to Asia – Source

Saudi to Supply Full May Crude to Asia – Source

Saudi Arabia, will supply full contracted volumes of crude oil in May to at least one Asian term buyer, unchanged from April, an industry source familiar with the matter said on Monday.

April 9, 2012 4:24 by



Saudi Arabia, the world’s top crude exporter, will supply full contracted volumes of crude oil in May to at least one Asian term buyer, unchanged from April, an industry source familiar with the matter said on Monday.
Saudi Arabia made no changes to the operational tolerance in the supply allocation, the source added, meaning buyers have the option of asking for cargoes to be loaded with up to 10 percent more or less crude than contracted.
The source declined to say whether his company would take the maximum volume permissible amid an anticipated supply fall from Iran, saying how to secure tankers is the first thing to consider.
Saudi’s state oil firm Saudi Aramco said last week it had cut its flagship Arab Light May prices for Asian buyers by 35 cents to plus $2.45 per barrel versus the Oman/Brent average from April prices.
(Reporting by Risa Maeda;Editing by Clarence Fernandez)



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