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 US-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.

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