SAUDI ARABIA

Saudi Arabia Cuts US Majors' Nominations for August by 13.5%

In an apparent effort to keep crude oil production within its July-December 1987 OPEC quota of 4.343mn b/d, Saudi Arabia has notified its major US customers of cuts in their August lifting nominations averaging 13.5%, MEES learns. The original nominations for August liftings submitted by the four Aramco companies - Exxon, Texaco, Mobil and Chevron - are understood to have collectively totalled around 1.222mn b/d....