Aramco Cuts April Asian Shipments, Pressures ExxonMobil’s SAMREF Supply Ahead of 24 Million-Barrel Loading
Aramco will reduce April crude supplies to Asian term customers for a second straight month, limiting shipments to Arab Light from Yanbu and tightening feedstock at the SAMREF refinery co-owned with ExxonMobil, which sustained minor drone-related damage. Aramco aims record April Yanbu exports, with Sinopec loading about 24 million barrels.
1. April Supply Cuts to Asia
Aramco will reduce crude oil shipments to Asian term customers in April for a second consecutive month, limiting deliveries to Arab Light grades exclusively from its Yanbu terminal and tightening regional feedstock availability.
2. SAMREF Refinery Operational Impact
Operations at the SAMREF refinery in Yanbu—jointly owned by Aramco and ExxonMobil—were briefly interrupted by a drone strike that caused minimal damage, highlighting potential downstream effects on ExxonMobil’s refining throughput and maintenance schedules.
3. Export Strategy and Sinopec Loading
With the Strait of Hormuz effectively closed, Aramco is pivoting exports through Yanbu and aims to reach record volumes this month, including a scheduled 24 million-barrel loading for Sinopec, to mitigate supply disruptions and support Asian demand.