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Saudi Aramco asks Asian buyers to increase crude oil lifting volumes for October
Jin10 data reported on September 11 that, according to three people familiar with the matter, Saudi Aramco, the world's largest oil exporter, has requested Asian buyers to lift more crude oil in October. This comes after Saudi Arabia cut the prices of all grades of crude oil by more than expected amid increasing supply. Two sources said that in order to regain market share, Saudi Aramco engaged in off-market discussions with Asian buyers during the Asia Pacific Petroleum Conference (APPEC) held in Singapore this week, urging them to increase their lifting volumes in October. One source indicated that this move has led to a certain degree of latency in the allocation of crude oil supplies for October, which may not be completed until next week.