Saudi Arabia hits oil prices

Saudi Aramco, a state-owned company, cut the price of Arab Light crude for June delivery to Asia from $ 9.35 to $ 4.40 for the first time in four months.

This was reported by Bloomberg.

In addition, Northwest Europe and it can be said that, Prices have been reduced for the entire Mediterranean. Prices in the United States remained at the level of May.

Saudi Arabia sells a barrel of Brent after Russia’s intervention in Ukraine 10It lowered oil prices for the first time since rising above $ 0. In general, the price increase Russia uncertain situation around supplies and It is happening against the background of declining exports from Russia, because the EU Russia has taken a course to give up energy. In addition, the situation is affected by quarantine regulations in China.

Saudi Arabia exports more than 60% of crude oil to Asia, China, Japan, South Korea and India is the largest buyer of oil.