Saudi Aramco Likely to Cut Term June LPG Exports Further on Crude Curbs

Saudi Aramco is expected to further cut or defer the number of term LPG cargoes for June-lifting, traders said Wednesday, after the Kingdom pledged to deepen oil supply curbs in June by an additional 1 million b/d below its quota under the OPEC+ pact and hold its output at 7.492 million b/d.

Traders said June exports are estimated at 410,000 mt to 460,000 mt, down from around 470,000 mt in May. The announcement of term nominations is expected around May 20, they added. “Yes, if they really cut another 1 million b/d (of crude), it will affect LPG exports too,” one trader said…

View entirety: S&P Global Platts