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    Saudi Arabia will reduce oil sales in Asia by 10%

    The main decline will be in exports to China© Report

    Baku. 8 August. REPORT.AZ/ Saudi Arabia, the world's largest oil exporter, said it would cut oil exports to its main customers in Asia by about 10 % in September. 

    Report informs citing the Reuters, reduction of sale volumes will be carried out within the framework of the agreement on production cut.

    According to Reuters agency, decline in exports will be related to 4 of the seven refineries. The main decline will be in the volume of export to China.S. Arabia is planning to reduce oil exports to this country by 5-10%.

    Notably, analysts consider reduction in export volume as relevant step. Thus, according to a report by Thomson Reuters Oil Research, oil exports by OPEC in July increased by 370,000 barrels or 1.44 % up to 26.11 mln bpd in July. The main growth was recorded in the export volume of Nigeria and amounted to 260,000 barrels.

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