Saudi Aramco cuts oil supply to Asia for second month
Saudi Aramco is cutting crude supply to Asia for a second month in April. Trade disruptions in the Strait of Hormuz have forced a shift to Red Sea exports.
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The world's leading oil exporter, Saudi Aramco Base Oil Company - Luberef, has implemented a second consecutive month of crude supply reductions to Asian buyers for April. This decision comes as geopolitical tensions, specifically the conflict involving the United States, Israel, and Iran, continue to disrupt vital trade routes through the Strait of Hormuz.
