Official: Sinopec to cut Saudi crude imports for May in response to high OSPs - Reuters

An official from China’s Sinopec trading arm Unipec told Reuters late on Monday, Asia’s largest refiner plans to cut Saudi crude oil imports loading in May by 40 percent after national oil company Saudi Aramco set higher-than-expected prices.

The official noted: “Our refineries think that these are unreasonable prices as they do not follow the pricing methodology.” 

Saudi Aramco did not respond to a request seeking comment on Sinopec’s planned cuts.