Saudi Arabia Slashes Oil Supply to Asia as War Chokes Export Route

Saudi Arabia is slashing its crude oil exports to Asia in April, for a second month in a row, as the de facto closed Strait of Hormuz is stranding most of the supply from the world’s top crude exporter. Saudi oil giant Aramco has notified customers of term supply in Asia that they would receive in April only the flagship Arab Light grade loaded at the Yanbu export port on the Red Sea, Reuters reported on Monday, quoting sources familiar with the plans. So far in March, Saudi Aramco has exported about 4.355 million barrels per day (bpd) of…