State oil giant Saudi Aramco statement on Saturday – cuts its official selling price for April for all its crude grades to all destinations
UPDATE – news about also Saudi plans to ramp up output, to well in excess of 10m bpd – I’ll post more on this separately
- its Arab light crude oil to the United States cut to a discount of $3.75 per barrel, down $7 a barrel from March
- to Northwestern Europe to a discount of $10.25 per barrel to Ice Brent, down $8 a barrel
Comes in the wake of the crumbling of OPEC+ plans late in the week, the OPEC/Russia pact expired without further agreement after 3 years in place.
