Riyadh – Mubasher: Saudi Arabia will decrease its crude oil allocations to its customers across the globe by 350,000 barrels per day (bpd) in October, Reuters reported citing an industry source as saying.

The cuts in crude oil allocations will occur in accordance with Saudi Arabia’s commitment to the Organization of the Petroleum Exporting Countries’ (OPEC) agreement to reduce oil supply.

“Despite refiners’ request for more crude, the decision was made to maintain cuts,” the source told Reuters.

On the same note, Saudi Aramco will trim its supplies to “the world’s biggest oil consuming region” by 1.8 million barrels in October, the source revealed, indicating that Japanese customers will be the most impacted by the cuts.

Under the OPEC deal, the Kingdom is required to trim production by 486,000 bpd.