Saudi Arabia will lower oil prices for the US and Europe

Саудовская Аравия снизит цены на нефть для США и Европы

The most significantly reduced the cost of “heavy” oil to buyers from the Mediterranean countries.

Saudi Arabia in September to reduce prices on all types of oil which are exported to the USA and the countries of the Mediterranean and Northwest Europe. This was announced by the state-owned Saudi Aramco on Friday, August 3.

The most significantly reduced the cost of “heavy” oil to buyers from the Mediterranean States to $1.1 per barrel. So, next month it will be cheaper than Brent by $5.2 per barrel. Other varieties will be reduced in price by us $0.8-0.9 per barrel.

The oil supplied to the USA, will drop next month for $0,4-0,7 for barrel.

At the same time, the price of all grades of fuel delivery to the countries of Asia will increase by $0.1 per barrel.

Earlier, Saudi Arabia promised to cover the deficit of oil. Supply shortage on the world market is expected in the second half of 2018 in the amount of 1.6-1.8 million barrels per day.

Also, the Saudis began to increase oil production after two years of reduction of production of raw materials.

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According to the materials:

Interfax-Ukraine
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