Saudi sells Asian buyers full contract volumes despite oil output cuts

Singapore

Saudi Arabia is trying to make sure crude buyers in the world's biggest oil market aren't lured by rivals while it curbs output as promised.

Saudi Arabian Oil Co will sell full volumes of contractual supply for March to Asian refiners, according to people with knowledge of the matter. The state-owned producer, known as Aramco, gave at least one North Asian processor extra volumes of a light crude variety, an official at one of the buyers in the region said.

As Middle East nations have cut output as part of a deal between global producers to ease a glut, it's spurred the flow of rival supply to Asia from areas including the Atlantic Basin and US fields. That's because regional benchmark Dubai crude has strengthened against other markers such as Europe's Brent and America's West Texas Intermediate. While Saudi Arabia is pumping less oil, it's also trying not to give up sales to top consuming countries such a…