After increase, Saudi announces reduction in oil prices

After Saudi Aramco, the largest global oil exporter, have increased the prices of its imports to customers in the Far East, as already reported by Panorama Offshore (, the state of Saudi Arabia decided to reduce the prices for delivery in April, the super and extra light oil.

The cut in prices were $ 0.50 and $ 0.75 per barrel of super and extra light oil to the Far East. Also there was a decrease in prices for the United States, Northwest Europe and the Mediterranean countries, in different percentages.

The drop in state prices could further increase exports of Saudi Arabia. Remember that the country accepted the production cuts proposed by the Organization of the Petroleum Exported (OPEC) in order to enhance oil market.


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