BEIJING: Asian refiners have increased oil buying from Saudi Arabia, Kuwait, the United Arab Emirates and Iraq after the United States pledged to renew sanctions on Iran, Kuwait Petroleum Corp (KPC) Chief Executive Officer Nizar al-Adsani told Reuters on Monday.
Speaking on the sidelines of an event in Beijing, al-Adsani confirmed KPC has increased output by 85,000 barrels per day as part of last month’s OPEC agreement. Any further increases would depend on OPEC.
Source: Brecorder
