Citing four unnamed sources, Reuters reports that the world’s largest oil exporter, Saudi Arabia’s Aramco, has cut August heavy crude supply for some Asian refiners.
Additional details
The cuts are at least four buyers in Asia.
The cuts are mainly for Arab heavy crude.
Market reaction
Despite the supply cut news, the black gold fails to benefit, with the US oil down 0.80% to test the 40 mark while Brent oil drops below $43.
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