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Market Chatter: Saudi Aramco Raises Gulf Crude Exports Via Ras Tanura

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Saudi Arabian Oil Co (SASE:2222), d/b/a Saudi Aramco, increased crude exports from its Ras Tanura terminal inside the Strait of Hormuz to 60 million barrels, Reuters reported Friday, citing multiple trade sources.

The crude is expected to be transferred ship-to-ship at the Omani port of Sohar in September and October, boosting the state-backed oil major's Gulf exports to 1 million to 1.5 million barrels ​per day on average, according to the report.

Chinese and South Korean refiners are among the largest buyers of the spot cargoes, alongside buyers in India and Japan, the report added.

Aramco did not immediately respond to' request for comment.

(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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