Saudi Arabia slashes crude oil prices for April; sparks oil price war

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Saudi Arabia slashes crude oil prices for April; sparks oil price war

사우디, 4월분 원유 수출가격 대폭 내려…”4월부터 증산”

Saudi Arabia has slashed its export oil prices for April, and is also planning to boost production in a move that has sparked a price war which could have far-reaching economic and political consequences.
The move comes after Russia on Friday refused to join OPEC’s plan to cut supplies.
Saudi Arabia’s state-run oil giant Saudi Aramco on Saturday lowered its April oil prices to Asia by six dollars a barrel, its biggest discount in 20 years.
It also slashed its export prices to U.S. by seven dollars a barrel,… and to Northwestern Europe by eight dollars.
Aramco also plans to increase its daily production to more than 10 million barrels, possibly even 11 million,… well above its current output.
Experts say the move will sharply drive down global oil prices.

#SaudiArabia #oil #price

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