Saudi-Asia dispute over 2027 term oil deals amid Iran war spot sales

Asian refiners and Saudi Arabia are deadlocked over whether 2026 spot sales, used to offset Iran-war supply disruptions, should count toward 2027 fixed-volume term contracts. The dispute risks delaying or reducing contracted volumes for Asia's largest suppliers, adding uncertainty to crude supply just as the market absorbs war-related shocks. Outcome will determine pricing and volume stability for Asian buyers in 2027.

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