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Saudi Arabia crude sales to Asia up, pressuring rivals

July 1, 2016

Saudi Arabia will supply more Arab Extra Light crude to at least two buyers in Asia in July, four sources familiar with the matter said on Thursday, as the top oil exporter ramps up shipments in a bid to claim a bigger share of the Asian market.

Saudi Arabia has traditionally accounted for most of the crude imports by Asia, the world’s biggest oil consuming region, but recently its position has been challenged with Russia overtaking it as China’s top supplier in the past three months.

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