Saudi, the world’s largest oil exporter, is increasing shipments out of the Persian Gulf and has sold spot crude to Asian buyers, traders said. State-owned ARAMCO has sold at least 6 mln barrels of crude to customers including South Korea and Japan; the cargoes will be loaded on three supertankers. Middle East producers lifting output have pushed regional crude prices sharply lower. ARAMCO has resumed loadings at Ras Tanura, its main Persian Gulf export terminal. Traders said such spot sales are

Saudi, the world’s largest oil exporter, is increasing shipments out of the Persian Gulf and has sold spot crude to Asian buyers, traders said. State-owned ARAMCO has sold at least 6 mln barrels of crude to customers including South Korea and Japan; the cargoes will be loaded on three supertankers. Middle East producers lifting output have pushed regional crude prices sharply lower. ARAMCO has resumed loadings at Ras Tanura, its main Persian Gulf export terminal. Traders said such spot sales are highly unusual because ARAMCO typically sells to term buyers at monthly official selling prices; the volumes will count toward buyers’ annual contracted allocations.