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Oil, Gas, Petrochemical and Energy Field Specialized Channel
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Oil, Gas, Petrochemical and Energy Field Specialized Channel

Saudi Arabia Supplies about 5 mln bpd to Asian States

Oil from Eastern Russian field is very competitive.

 

Saudi Arabia supplies about 5 mln barrels of oil per day to the Asian market, but the market's capacity can also accept oil from Russia, said Khalid al-Falih, Minister of Energy of Saudi Arabia.
"Supplies of Saudi Arabia are well diversified. We supply big volumes to South and Northern America, We sell oil to the European market.  About 5 mln barrels per day go to Asia. The dominating volumes go to Japan, South Korea. Big volumes go to India and China, they keep on growing," Trend cites the Minister at the session of the Russian Energy Week.
He said oil from Eastern Russian field "is very competitive".
"I think the market is big enough to cover supplies of both of us. There is healthy competition between Aramco and Russia. The fact that we cooperate for the market stabilization, should not diminish our competition," he concluded.

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