A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019.
Tanker rates soared as Saudi Arabia provisionally chartered around 31 supertankers to take extra oil, including to the US, where Russian oil is usually less in demand. Russia has so far said it is not planning to come back to the negotiating table despite feeling the pressure from the extraordinary Saudi moves.
Saudi Arabia has made a deep cut to its official selling prices for oil. Arab Light and Arab Medium barrels were offered at selling price of $25-28 per barrel on CIF Rotterdam basis, traders said. "We are happy with our allocation. The requests for April were confirmed. I look forward to May if prices remain that attractive", a trader with a European oil company involved in the talks told Reuters.
Source: News Formal (newsformal.com)
Dont lie Till date and time it's well above 30
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