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Market Chatter: Saudi Arabia Sells Nearly 100 Million Barrels of Oil to Asian Buyers

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Saudi Arabia has reportedly sold over 100 million barrels of crude oil to Asian buyers since the middle of last week, according to Bloomberg, citing traders familiar with the matter.

This comes as the Kingdom ramps up deliveries via the Strait of Hormuz, amid disruptions to its East-West pipeline, with deliveries scheduled in October and November by Chinese state-owned and independent refiners, as well as processors in India, Japan and South Korea.

Aramco is also offering to handle the logistics of delivering crude directly to Asian customers, as refiners are increasingly unwilling to send their own vessels through the treacherous waters of the Persian Gulf, amid heightened risk of attacks in recent months.

This additional supply comes as Chinese and Indian refiners deal with constrained flows, with the US blockade against Iran, alongside the shortfall in Russian supplies.

Saudi Aramco did not immediately respond to' request for a comment on this story.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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