Saudi Aramco announced a production cut at two oil fields following Iranian attacks on the Kingdom, according to Reuters.
Aramco also offered immediate crude oil supplies through a series of rare tenders, given the de facto closure of the Strait of Hormuz, which disrupted shipments and led to the rerouting of flows through the Red Sea.
The world's largest crude oil exporter offered three grades: Arab Extra Light, Arab Heavy, and Arab Light, according to traders with direct knowledge of the matter.
The traders said that the volumes offered amounted to approximately 4.6 million barrels of these grades in recent days, requesting anonymity because they were not authorized to speak to the media, according to Bloomberg.
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