Saudi Arabian state oil giant Aramco lowered oil prices for Europe and raised them for the United States on Thursday, a day after the OPEC+ group of exporters agreed to slash crude output, Bloomberg said
MOSCOW (Pakistan Point News / Sputnik - 06th October, 2022) Saudi Arabian state oil giant Aramco lowered oil prices for Europe and raised them for the United States on Thursday, a day after the OPEC+ group of exporters agreed to slash crude output, Bloomberg said.
All November prices for North West Europe and the Mediterranean were down, the news agency estimated. Grades for the US were up by 20 cents.
Saudi Arabia's market share in the US is relatively small. Prices on its main market in Asia were largely unchanged, with benchmark Arab Light trading at $5.85 a barrel. Medium and heavy grades were up by 25 cents and extra light down by 10 cents.
The OPEC group and Russia said Wednesday they would cut production by two million barrels a day starting November, prompting an angry response from Washington. The White House called the decision a mistake and accused OPEC of partnering up with Russia.
