Turkey has begun talks with Saudi Arabia on long-term crude oil purchases, Turkish Energy Minister Taner Yildiz said today.
“Talks with Saudi Arabia on long-term crude oil purchases have started… Talks are still going on; they (Tupras and Saudi Aramco)will discuss the quantities between them," Yildiz told reporters [Reuters, 12 June].
Tupras refiner is Turkey’s main importer of Iranian crude.
Meanwhile, the price of oil hit an eight-month low. Brent crude for
July delivery was at $97.37 per barrel on London’s ICE Futures exchange.