GET Stock QuotesNews18 APP
News18 English

Assembly Election LIVE Results

  • LOST

    Shaktisinh Gohil

    INC (Mandvi)
  • WON

    Jignesh Mevani

    IND (Vadgam (SC)
  • WON

    Alpesh Thakor

    INC (Radhanpur)
  • LEADING

    Nitinbhai Patel

    BJP (Mahesana)
  • WON

    Hitu Kanodiya

    BJP (Idar (SC)
  • WON

    Pradipsinh Jadeja

    BJP (Vatva)
  • LOST

    Babubhai Mangukiya

    INC (Thakkarbapa Nagar)
  • WON

    Himmatsinh Patel

    INC (Bapunagar)
  • WON

    Bhupendrasinh Chudasama

    BJP (Dholka)
  • WON

    Somabhai Patel

    INC (Limbdi)
  • LOST

    Indranil Rajguru

    INC (Rajkot West)
  • WON

    Vijay Rupani

    BJP (Rajkot West)
  • WON

    Jayesh Radadiya

    BJP (Jetpur)
  • WON

    Lalit Vasoya

    INC (Dhoraji)
  • LOST

    Raghavjibhai Patel

    BJP (Jamnagar Rural)
  • WON

    Hakubha Jadeja

    BJP (Jamnagar North)
  • LOST

    Arjun Modhwadia

    INC (Porbandar)
  • WON

    Paresh Dhanani

    INC (Amreli)
  • WON

    Purshottam Solanki

    BJP (Bhavnagar Rural)
  • WON

    Jitu Vaghan

    BJP (Bhavnagar West)
  • TRAILING

    Saurabh Patel

    BJP (Botad)
  • LOST

    Ramsinh Parmar

    BJP (Thasra)
  • TRAILING

    CK Raulji

    BJP (Godhra)
  • WON

    Mohansinh Rathava

    INC (Chhota Udaipur (ST)
  • LOST

    Siddharth Patel

    INC (Dabhoi)
  • WON

    Manisha Vakil

    BJP (Vadodara City (SC)
  • WON

    Rajendra Trivedi

    BJP (Raopura)
  • WON

    Mahesh Vasava

    BTP (Dediapada (ST)
  • WON

    Chhotubhai Vasava

    BTP (Jhagadia (ST)
  • LOST

    Tusharbhai Chaudhari

    INC (Mahuva (ST)
  • LOST

    Thakur Singh Bharmouri

    INC (Bharmour (ST)
  • TRAILING

    Asha Kumari

    INC (Dalhousie)
  • TRAILING

    GS Bali

    INC (Nagrota)
  • LOST

    Sudhir Sharma

    INC (Dharamshala)
  • TRAILING

    Indu Goswami

    BJP (Palampur)
  • LEADING

    Jai Ram Thakur

    BJP (Seraj)
  • WON

    Anil Sharma

    BJP (Mandi)
  • LOST

    Champa Thakur

    INC (Mandi)
  • TRAILING

    Prem Kumar Dhumal

    BJP (Sujanpur)
  • LOST

    Satpal Singh Satti

    BJP (Una)
  • LEADING

    Virbhadra Singh

    INC (Arki)
  • WON

    Suresh Bhardwaj

    BJP (Shimla)
  • WON

    Vikramaditya Singh

    INC (Shimla Rural)
  • WON

    Narinder Bragta

    BJP (Jubbal Kotkhai)
»
2-min read

Saudi to Supply Full Crude Volumes in July to Some in Asia, Cuts to US

Saudi Arabia, the world's top oil exporter, will supply full contracted volumes of crude to some Asian buyers in July, while cutting allocations to the United States, industry sources with knowledge of the matter said on Monday.

Reuters

Updated:June 12, 2017, 3:07 PM IST
facebookTwittergoogleskypewhatsapp
Saudi to Supply Full Crude Volumes in July to Some in Asia, Cuts to US
An oil tank is seen at the Saudi Aramco headquarters during a media tour at Damam city. (Image: Reuters)

Tokyo/Singapore/Dubai: Saudi Arabia, the world's top oil exporter, will supply full contracted volumes of crude to some Asian buyers in July, while cutting allocations to the United States, industry sources with knowledge of the matter said on Monday.

State-run oil company Saudi Aramco will supply full crude volumes to at least five Asian buyers mainly in North Asia, while lowering volumes for some customers in India, China and South Korea, the sources told Reuters on condition of anonymity.

Elsewhere, crude allocations to the United States have been lowered but Aramco kept volumes steady to Europe compared to June, two sources said, without providing details.

One of Aramco's main buyers in China opted for lower nominations in July due to planned refinery maintenance and the more expensive Dubai benchmark, one of the sources said.

Another North Asian customer said Aramco would supply full volumes of heavy crude for a third straight month.

According to the July plans, Aramco will cut supplies to South Korea by almost 5 percent, India by around 20 percent and China by some 10 percent, while supplying full volumes to buyers in Japan and Taiwan, said one source who had knowledge of the nominations but did not wish to be identified.

Saudi Arabia, de facto leader of the Organization of the Petroleum Exporting Countries, has cut oil output as part of a global supply pact and trimmed exports to meet rising domestic demand for power during the hot summer months.

An OPEC-led agreement to curb global oil supplies was extended last month until March 2018.

Aramco last month notified Asian refiners that it will reduce oil supplies to Asia by about 7 million barrels in June, its first cuts for that region since the OPEC-led output reductions took effect in January.

When OPEC announced the curbs last year, Saudi Arabia told its customers in Europe and the United States that they would receive lower volumes but shielded most of Asia from the cuts.

However, power demand peaks during summer in the desert kingdom, with residents turning up air conditioners as temperatures reach as high as 50 degrees Celsius.

This year is likely to see an earlier spike in demand as the Muslim fasting month of Ramadan started in late May.

Under the supply pact, OPEC states, Russia and other major producers agreed to cut output by about 1.8 million barrels per day (bpd).

Saudi Arabia accounts for about 40 percent of the cuts pledged by OPEC. It has reduced output by more than 500,000 bpd so its total production now runs slightly below 10 million bpd.

Industry sources told Reuters in April that higher domestic demand for oil in the summer would weigh on exports especially if Saudi Arabia kept output at about 10 million bpd.

Saudi Arabia usually burns about 700,000 bpd of oil for power generation in the hottest months from May to August. This summer, the country may reduce domestic oil consumption as it plans to use more natural gas in power stations.

Read full article
Next Story
facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
SBI 320.75 +8.50 +2.72
Reliance 926.40 +6.65 +0.72
M&M 1,527.90 +44.50 +3.00
Maruti Suzuki 9,336.10 +170.20 +1.86
Adani Enterpris 161.35 +6.15 +3.96
Company Price Change %Gain
ICICI Bank 310.70 +7.25 +2.39
Bharti Airtel 527.55 +8.60 +1.66
Petronet LNG 255.35 +7.40 +2.98
Bombay Dyeing 284.80 +18.10 +6.79
Axis Bank 551.00 +2.90 +0.53
Top Gainers
Company Price Change %Gain
Vedanta 308.40 +10.40 +3.49
Hindalco 250.05 +7.30 +3.01
M&M 1,527.55 +44.15 +2.98
SBI 320.90 +8.65 +2.77
GAIL 498.50 +12.85 +2.65
Company Price Change %Gain
M&M 1,528.75 +46.10 +3.11
SBI 320.90 +8.15 +2.61
ICICI Bank 310.70 +7.25 +2.39
Cipla 589.40 +13.50 +2.34
Sun Pharma 529.10 +10.90 +2.10
Top Losers
Company Price Change %Gain
Tech Mahindra 493.60 -7.15 -1.43
HPCL 437.55 -6.25 -1.41
UPL 711.90 -5.90 -0.82
Coal India 268.35 -2.65 -0.98
Yes Bank 312.80 -3.10 -0.98
Company Price Change %Gain
Coal India 268.60 -2.45 -0.90
BHEL 89.60 -0.30 -0.33
Kotak Mahindra 1,024.00 -5.00 -0.49
Infosys 1,019.30 -4.15 -0.41
ITC 263.90 -0.85 -0.32

Live TV

File is:/article-scroll-new.php