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Saudis Ease Asia Oil Crunch With 100-Million-Barrel Sales Flurry
Source: Bloomberg
Energy Markets & PricesCommodities & Raw MaterialsTrade Policy & Supply Chain
Saudi Arabia has sold nearly 100 million barrels of oil to Asian buyers since mid-last week, according to traders, helping avert a looming regional supply crunch. The large volume of rapid crude sales should ease near-term availability concerns for Asian refiners, though it underscores the region's sensitivity to Saudi supply flows.
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