Saudi Arabia lowered oil price for Europe


Saudi state oil company Saudi Aramco has raised the oil price for the USA and the countries of Far East, but lowered for Europe.

According to the Wall Street Journal, the countries of the north-western region of Europe will pay 35 cents less for Saudi oil, and the Mediterranean countries – 10 cents less.

The Wall Street Journal explains reducing the prices by the competition between Saudi Arabia and Iran, that resumed oil supplies to Europe after the lift of international sanctions. Now, the daily export of Iranian oil to Europe reached 400 thousand barrels.

At the same time, the price of a barrel of Saudi oil to the United States (where Iran’s oil is still banned) has increased by 10 cents.

On June 2, OPEC summit was held in Vienna, during which the member countries of the cartel failed to agree on oil restrictions.

Source: NTV