Saudi Arabia decided to urgently save oil prices

US, WASHINGTON (ORDO NEWS) — Saudi Arabia wanted to urgently save oil prices and hold an emergency meeting with world exporters as part of OPEC + on the issue of reducing production. This was reported by Saudi Press Agency.

The idea of ​​the meeting was already supported by Iraq, which is considered one of the most affected parties in the oil war, Reuters writes .

The OPEC + deal to cut production fell apart in early March after withdrawing from the agreement between Russia and Saudi Arabia.

The agreement expired on April 1, 2020. Moscow and Riyadh declared a price war on each other, as a result of which the cost of raw materials fell to their lows over the past 18 years.

By the end of March, Brent benchmark oil fell below $ 23 per barrel for the first time since early 2002, the same thing happened with WTI American oil, which fell below $ 20. Russian Urals has fallen to $ 10 and has updated at least since 1999.


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