MOSCOW (Sputnik) – Saudi Arabia’s state-run energy giant Saudi Aramco has raised crude prices for US and Asian customers in February, the Bloomberg news agency said Wednesday.
The move follows the Gulf monarchy’s decision to unilaterally cut oil output by 1 million barrels a day through March under a deal between OPEC and the Russia-led group of oil exporters.
The crude price for northwestern Europe and the Mediterranean region has been lowered to offset a drop in demand caused by the coronavirus pandemic and lockdowns, which were renewed in December.
On Tuesday, the kingdom’s Energy Minister Prince Abdulaziz bin Salman said that Saudi Arabia would reduce oil output by 1 million barrels per day for February and March at their will, thus bringing its daily production to 8.125 million barrels.
Other OPEC+ members agreed to slash an additional 425,000 barrels daily over the same period of time, while only Russia and Kazakhstan were allowed to increase their oil production a little for the next two months.
Sourse: sputniknews.com
0.00 (0%) 0 votes
MOSCOW (Sputnik) - The Coalition for the Restoration of Democracy (CORED), which unites 18 opposition parties in Guinea, said on…
The news of an interplanetary scale comes after NASA believed it had captured its first sample with Perseverance last month,…
MOSCOW (Sputnik) - The last pipe of the second string of Nord Stream 2 has been welded, and after a…
LONDON (Sputnik) – The UK government on Monday condemned the military coup against the president of Guinea, Alpha Conde, and…