Saudi Arabia to keep June crude oil supply steady for two Asia buyers

Saudi Arabia will supply full contractual volumes of crude to two refiners in Asia in June, Reuters reported, citing unnamed sources with knowledge of the matter.

The Kingdom informed the buyers that it planned to reduce Arab Heavy crude exports in June, but would top up the volume with the Arab Light grade to meet contractual obligations, the sources said.

Saudi Arabia is likely cutting down on heavy crude supplies to help meet a rise in domestic crude oil demand for power generation during summer, traders said.

Last week, state-owned Saudi Aramco raised the June price for its Arab Light grade for Asian customers.