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Saudi Aramco to lift oil-trading volume to 6 million barrels per day

Oil major Saudi Aramco is looking to boost its oil trade volume to 6 million barrels per day. The move would push the company to the top tier of oil traders.

Photo: SaudiAramco

Saudi Aramco, the world's biggest oil exporter, plans to trade as much as 6 million barrels a day, a jump in volume that would put it in the top tier of companies that buy and sell crude and refined products.

The trading arm of the state-run giant known officially as Saudi Arabian Oil Co. currently handles between 3.3 million and 3.6 million barrels a day, Ibrahim Al-Buainain, the unit's chief executive officer, said in an interview in Abu Dhabi. Aramco Trading, as the business is known, targets 5.5 million to 6 million barrels a day by 2020 as its parent opens new refineries in Malaysia and Saudi Arabia, he said.

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