Saudi Aramco Oil Company postponed the publication of prices for its oil from Sunday to Wednesday-Thursday, Bloomberg reports, citing sources.
According to them, the publication was postponed because Saudi Arabia is “exchanging barbs” with Russia about the OPEC+ meeting, which is necessary to stop the collapse of prices in the oil market. The new date has not yet been determined, and the announcement may take place on Wednesday or Thursday, although it was assumed that Riyadh would announce its prices to potential buyers on Sunday.
Earlier it was reported that the meeting in the format of a videoconference may take place on Monday, April 6, but was postponed to April 9. However, there is no official confirmation that it will take place yet.
The decision on the price may affect the volume of approximately 14 million barrels per day exported from the Persian Gulf, as regional producers often set their prices with an eye on the prices of Saudi Arabia, the largest producer in the region.
Earlier it was reported that Saudi Arabia plans to increase exports in may by 600,000 barrels per day compared to 10 million b/d in April.