Saudi Aramco offers more oil outside Strait of Hormuz – report

AI Summary

Saudi Aramco has increased oil offerings for September delivery outside the strategic Strait of Hormuz area, following significant sales to China this month. This move indicates a shift in oil distribution patterns by the state oil producer.

Saudi Aramco has increased oil offerings for September loading outside the Strait of Hormuz, according to a Reuters report early Wednesday citing people familiar with the matter. The move follows the sale of at least 4 million barrels to China this month. The state oil producer has reportedly initiated a sales process for Arab Medium ...