Last Updated: Wed Jun 06, 2012 12:49 pm (KSA) 09:49 am (GMT)

Kuwait to keep full crude supply to Asia in July-Sept

Kuwait has been supplying full contractual crude oil volumes to Asia since July 2011. (File photo)
Kuwait has been supplying full contractual crude oil volumes to Asia since July 2011. (File photo)

Kuwait has notified at least one Asian customer that it will supply full contractual crude oil volumes for July-September, steady from April-June, traders said on Wednesday.

Kuwait has been supplying full contractual crude oil volumes to Asia since July 2011, when it ended a 5 percent curb that had been in place since February 2009.

The OPEC member gave buyers the so-called “tolerance” option of asking to load each vessel with 5 percent more or less than contracted volumes in the third quarter, the same as the previous quarter, the traders added.

Qatar, one of OPEC’s smallest producers, has also plans to supply contractual crude oil volumes to its Asian buyers in July, steady from June.

Asian buyers are waiting for Saudi Arabia’s crude oil supply plans in July, which are expected to be release as early as this weekend.

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