Column: Saudi puts refiners over a barrel with July output cut, price hike: Russell
LAUNCESTON, Australia, June 6 (Reuters) – Having been surprised by Saudi Arabia announcing a unilateral 1 million barrels per day cut in oil output for July, oil refiners got more bad news when Saudi Aramco (2222.SE) informed Asian customers that prices for July-loading cargoes were going up. Prior to the decision to increase the official … [Read more…]