Bloomberg: Saudi Arabia cuts oil prices for Europe and raises for the US
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Saudi energy company Saudi Aramco has slashed the price of its flagship Arab Light (-$1.8) for November shipments to the European market, Bloomberg reported. Despite the recent decision of OPEC+ to cut oil production, traders’ forecasts of a 40-cent increase in the price of a barrel of Arab Light in the EU did not come true, but the grade rose by $0.2 in the US market. For Asian oil exporters November prices have not changed.
State-controlled Saudi Aramco left its key Arab Light for November shipments to Asia unchanged from this month at $5.85 a barrel above a regional benchmark. Bloomberg.
Formerly Saudi Aramco raised oil prices for August for the Asian region – the cost of a barrel of Arab Light increased by $2.8. Thus, a barrel of Saudi grade oil began to cost $9.3 more than a basket of oil from Oman and Dubai.
On October 5, the OPEC+ committee agreed to reduce daily oil production by 2 million barrels. USA criticized this decision as meeting the interests of Russia, since the reduction in production will lead to an increase in energy prices.
Read more about the decision of OPEC + – in the material “Kommersant” “Quotas were taken from the ceiling”.
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