Demand for Saudi Oil rises

April 8, 2013 1:07 pm

Demand for Saudi Oil rises

Doha April 08: Saudi Arabia, the world’s top crude exporter, will supply full contracted volumes of crude oil to at least one Asian term buyer in May, unchanged from April, an industry source familiar with the matter said on Monday.

The move was expected as the OPEC kingpin has supplied full contractual volumes to most Asian buyers since late 2009.

Demand for Saudi crude is likely to rise over the next few months, Saudi oil minister Ali Al-Naimi said a week ago, in a sign that the world’s largest oil exporter sees a recovery in its biggest export market, Asia.

About the Author

Aani Fatimah Khatoon is the Associate editor of Qatar Chronicle. She is a graduate of Bard College and the Columbia Graduate School of Journalism. A passionate feminist and ardent writer. She pens articles on public interest issues and happenings across the world.