10 October 2025: 09:30 BST
And the Saudi allocations for November are out and the air came off the balloon. The allocations felt tiny at 39.5 mill bbls versus 51 million the month before. But a well-versed consultant on Saudi matters noted to us that there was also a drop last year for November. Maybe it is the seasonal drop before Christmas, or maybe it is that the prices are the differentials are too steep with Arab Light for Asian destinations at formula plus $2.20. And we all know that a hefty drop is in store for December barrels, so why not wait and load then? Expect greater allocations in December!
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We invite you to read our reports, which are published twice a day, reflecting closing values at 16:30 Singapore time (SGT) and at 16:30 London time (GMT/BST). For any comments, please reach out to us through the emails provided in the signed documents.
