Saudi Arabia decided to cut oil prices for Europe in April. Meanwhile, it will raise them for buyers from Asia and the United States.

State-owned company Saudi Aramco has increased the price of Arab Light by 40 cents per barrel for the Asian market. Therefore, it has reached the highest rate since March 2020. The company also raised prices for all grades of oil except Arab Heavy.

The rise in the price of raw materials for US buyers amounted to $1.4 per barrel. The decrease of oil prices for buyers from North-Western Europe in April will be from $1.5 to $1.8 per barrel, from the Mediterranean – from $1 to $1.9 per barrel.