Saudi Aramco cuts oil supply to Asia for second month in April.

Saudi Aramco, the world's top oil exporter, has cut crude supply to ​Asian buyers for a second month ‌in April, two sources with knowledge of the matter said on Monday, after the U.S.-Israeli war with Iran ​disrupted trade via the Strait of ​Hormuz.

The producer is supplying only Arab Light ⁠crude exported from the Red Sea port ​of Yanbu to term customers in April, the ​sources said, keeping supplies to Asian refineries tight and capping their refined products output.

Aramco (2222.SE) could not be immediately ​reached for comment outside office hours.

Saudi Arabia ​has exported 4.355 million barrels per day of crude so ‌far ⁠in March, data from analytics firm Kpler showed, down from 7.108 million bpd in February.

The producer is trying to boost crude exports via ​Yanbu to ​offset the ⁠Strait of Hormuz disruption, with loadings seen rising to record volumes in ​March. China's top refiner Sinopec (600028.SS) is ​set ⁠to load about 24 million barrels of Saudi crude from Yanbu in March.

Oil loadings at the Yanbu ⁠port ​were briefly disrupted on Thursday after ​a drone crashed at Saudi Aramco's SAMREF refinery.

Source: www.reuters.com

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