Saudi Arabia has sold almost 100 million barrels of oil to Asian buyers since the middle of last week, according to traders familiar with the matter, helping to avert a looming supply crunch in the region.
The crude for delivery in October and November will be sent via the Strait of Hormuz, said the traders, asking not to be named as they’re not authorized to speak to media. Chinese state-run and independent refiners, as well as processors in India, Japan and South Korea are among the buyers, they said.
