Saudi Arabia reduces oil supplies to Japan

Saudi Arabia has informed clients with long-term contracts in Japan that it will reduce its oil supplies in the contracts of October by a rate ranging between 10 and 13 percent, according to an agreement signed by the OPEC states last March.

Japanese oil industry sources said Saudi Arabia has reduced its oil supplies in the contracts for the current month by between 10 and 11 percent.

Saudi Arabia has agreed in the framework of an agreement signed in March between the OPEC member states and another three non-OPEC member states to maintain a reduction of 1.3 million barrels of oil every day or almost 15% of its supplies.