The price of Russian Urals crude fell to $3,59

The price of Russian oil Urals in Northwest Europe for April 14 decreased compared with the figure for April 9 at $3,59 to $16,71 per barrel, despite the OPEC transaction+. The discount for Urals remained the same at $3.7 per barrel.

This is stated in the materials of the Argus, reports TASS.

Цена на российскую нефть Urals упала на $3,59

Representatives of OPEC countries agree on 12 April on the reduction of oil production in may and June to 9.7 million barrels per day. “But the measures proposed to reduce production of raw materials, according to many market participants, were late and insufficient”, — stated in the report of the Agency.

Low demand for oil has pushed the state company of Saudi Arabia Saudi Aramco will reduce the contract prices for may party for buyers from the Asia-Pacific region (APR) and the Mediterranean.

Writes Argus, Urals prices are subject to change after the release of the may programme of shipments from Russian ports. “But the publication of the preliminary programme was delayed due to significant reduction in production manufacturers need to completely revise the delivery schedules of raw materials on own factories abroad”, — explained in the materials of the Agency.

The price of Brent crude oil on 15 April on the ICE futures exchange in London fell below $28 per barrel for the first time since April 2.