Reuters exclusively reports Aramco offers struggling refiners sweeter terms for crude

Reuters exclusively reported that Saudi Aramco has offered oil refineries in Asia and Europe the option to defer payments for crude cargo deliveries by up to 90 days as plants struggle with shrinking demand due to coronavirus-related movement restrictions. The credit terms, which Saudi Arabia’s national oil company has offered through unnamed Saudi banks, are also seen as part of the country’s efforts to increase its market share.