Saudi Arabia reducing oil prices for Europe, but for the United States raises the

State oil company of Saudi Arabia, Saudi Aramco decided to lower the price of oil to consumers in Europe and the US to increase. This is reported by TASS with reference to the publication of the newspaper The Wall Street Journal.

For example, it is reported that July futures of the North-western region of Europe will be able to buy in Saudi Arabia at a discount of 35 cents per barrel, and the Mediterranean basin countries - at a discount of 10 cents. For American consumers Saudis raised the price by 10 cents per barrel.

According to The Wall Street Journal, lower prices for the royal family in Europe forced renewed in February of this year, oil supplies to Europe Iran.

Prices will be reduced by 35 cents per barrel for the north-western region. At 10 cents increased to US price. We are talking about futures for delivery in July.

Already, Iran supplies to the European continent of 400 thousand barrels of oil per day and plans to increase the volume until the end of the summer up to 700 thousand. At the same time Saudi Arabia currently supplies Europe with 800 thousand barrels per day.

It will be recalled that on 2 June in Vienna held regular consultations and negotiations of OPEC member countries, however, a consensus summit participants failed to come. The next meeting of OPEC will be held on 30 November. The venue chosen again the capital of Austria.

6 June 2016

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