Saudi Arabia delays oil price decision until after Thursday’s OPEC+ meet: Source

  • 4/5/2020
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Saudi Aramco will delay the release of its crude official selling prices (OSP) for May until April 10 to wait for the outcome of a meeting between OPEC and its allies regarding possible output cuts, a senior Saudi source familiar with the matter said on Sunday. “It is an unprecedented measure that has not been taken by Aramco before. May OSPs will depend on how the OPEC+ meeting concludes. We are doing what we can to make it successful, including taking this extraordinary step to delay the OSPs,” the Saudi source said. Saudi Aramco typically issues its OSPs by the fifth of each month, setting the trend for Iranian, Kuwaiti and Iraqi prices and affecting more than 12 million barrels of oil per day bound for Asia. OPEC and allies are due to meet on Thursday to discuss a possible new global crude supply cut to end a price war between Saudi Arabia and Russia which has prompted US President Donald Trump to intervene. Read more: A new global oil pact is worth exploring, even if it fails Trump says Saudi Arabian, Russian leaders both want to stabilize oil market Deep OPEC+ cuts won’t be enough to prevent oil inventory build: IEA head اي استفسار أو طلب خاص بخصوص التوظيف يمكنك التواصل مع الابميل التالي – مجير الموقع : alturky28@gmail.com لطلبات التصميم او البرمجة التواصل مع : hamzalaabar@gmail.com

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