The non-OPEC oil producer Oman has announced about its cut in the supply of crude oil in order to meet the demand of domestic refinery. The producers have well informed its regular customers about the same. This short supply will affect China the most as it consumes around 90% of Oman’s crude supply. "Oman is giving buyers advanced notice of a potential cut in exports in June," one of the people said, adding that customers were informed the timing could still change. The cut won't necessary lead to problems for Chinese buyers as there are many other supplier choices in the well-supplied Asia crude market, he said. The country will cut its crude output by 45,000 barrels per day in January to 965,000 bpd from the previous month, to comply with a deal struck late last year by the Organization of the Petroleum Exporting Countries and non-OPEC producers to support oil prices.
