Saudi Arabia has cut its term crude supplies for next month to refiners in India and Southeast Asia.
The move is being made as it looks to comply with an OPEC deal.
Saudi Aramco reduced February term supplies of mainly heavy crude to Indian refiners Reliance Industries and Hindustan Mittal Energy Ltd (HMEL) as well as to Malaysia’s Petronas.
Aramco has also cut supplies to another southeast Asian buyer for a second month in February, according to a source.