AGL 40.75 Increased By ▲ 2.21 (5.73%)
AIRLINK 128.20 Decreased By ▼ -1.30 (-1%)
BOP 6.14 Increased By ▲ 0.53 (9.45%)
CNERGY 4.05 Increased By ▲ 0.19 (4.92%)
DCL 8.40 Decreased By ▼ -0.33 (-3.78%)
DFML 40.79 Decreased By ▼ -0.97 (-2.32%)
DGKC 87.40 Decreased By ▼ -0.90 (-1.02%)
FCCL 34.10 Decreased By ▼ -0.90 (-2.57%)
FFBL 66.10 Decreased By ▼ -1.25 (-1.86%)
FFL 10.53 Decreased By ▼ -0.08 (-0.75%)
HUBC 108.50 Decreased By ▼ -0.26 (-0.24%)
HUMNL 14.39 Decreased By ▼ -0.27 (-1.84%)
KEL 4.65 Decreased By ▼ -0.10 (-2.11%)
KOSM 7.20 Increased By ▲ 0.25 (3.6%)
MLCF 42.40 Increased By ▲ 0.75 (1.8%)
NBP 61.89 Increased By ▲ 2.29 (3.84%)
OGDC 179.46 Decreased By ▼ -3.54 (-1.93%)
PAEL 25.85 Decreased By ▼ -0.40 (-1.52%)
PIBTL 6.05 Increased By ▲ 0.08 (1.34%)
PPL 146.40 Decreased By ▼ -0.30 (-0.2%)
PRL 23.84 Increased By ▲ 0.23 (0.97%)
PTC 16.29 Decreased By ▼ -0.27 (-1.63%)
SEARL 70.00 Increased By ▲ 1.70 (2.49%)
TELE 7.29 Increased By ▲ 0.06 (0.83%)
TOMCL 36.08 Increased By ▲ 0.13 (0.36%)
TPLP 7.85 No Change ▼ 0.00 (0%)
TREET 15.34 Increased By ▲ 1.14 (8.03%)
TRG 50.40 Decreased By ▼ -0.05 (-0.1%)
UNITY 27.00 Increased By ▲ 0.25 (0.93%)
WTL 1.24 Increased By ▲ 0.03 (2.48%)
BR100 9,797 Decreased By -8.8 (-0.09%)
BR30 29,611 Decreased By -67.5 (-0.23%)
KSE100 92,077 Decreased By -226.9 (-0.25%)
KSE30 28,728 Decreased By -112 (-0.39%)

Top world crude exporter Saudi Arabia will continue to enforce its Opec oil cut in full through the end of the year, but will ship more to some refiners in its main Asian market next month, sources said on Monday.
That suggests the United States and Europe may bear the brunt of Riyadh's cut as part of a 1.2 million barrels per day (bpd) Opec reduction that began November 1. "Saudi Arabia is already cutting by its full amount and will continue to do so in November and December," said a Gulf source familiar with the kingdom's oil policy.
Riyadh is to cut 380,000 bpd, shouldering the bulk of the Opec deal. State oil company Saudi Aramco can distribute the reduction as it sees fit and does not have to lower exports across the board.
December showed a surprising rebound to some customers in Asia, which takes nearly half the kingdom's exports, industry sources said. Saudi Arabia's crude supplies to Europe will remain steady versus November, however, trade sources said. "Since they reap such huge price rewards going East, why not maximise liftings there and shave the West?" said a senior crude oil trader.
Two refiners in Japan were notified by state firm Aramco it would supply them about 4-5 percent less crude than stipulated under their annual contract next month, a shallower cut than November's 7-8 percent reduction, industry sources said.

Copyright Reuters, 2006

Comments

Comments are closed.