Oil Updates — Crude falls for the fourth day; Saudi Aramco to ship full oil contract volumes to Asia in December 

Oil Updates — Crude falls for the fourth day; Saudi Aramco to ship full oil contract volumes to Asia in December 

RIYADH: Oil prices fell for a fourth day on Thursday on concerns that new COVID curbs in China, the world’s biggest crude importer, will impact fuel demand. Brent crude futures fell 2 cents, or 0.02 percent, to $92.63 a barrel at 08.15 a.m. Saudi time. US West Texas Intermediate crude futures were down 6 cents at $85.52 a barrel. Brent prices have dropped more than 6 percent so far this week, while WTI is down more than 7 percent. Saudi Aramco has told at least four refinery customers in North Asia they will receive full contract volumes of crude oil in December, several sources with knowledge of the matter said on Thursday. The producer is maintaining a steady supply to Asia despite the decision by the Organization of the Petroleum Exporting Countries and allies including Russia, known as OPEC+, to lower the group’s output target by 2 million barrels per day starting this month. “People are scratching their heads to figure out when will the output cut be materialized, as the market has not felt a tightened supply,” said one of the sources, a Singapore-based trader. Saudi Arabia’s Energy Minister Abdulaziz bin Salman said when the cuts were announced in