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13.04. Saudi Arabia continues the price war Saudi Arabia again went against its colleagues under the OPEC+ agreement and seems to have decided to continue the price war. Despite a deal concluded over the weekend to further reduce oil production, the Kingdom announced today that it is increasing discounts on its oil. For example, the cost of a barrel of Arab Super Light in the Asian market is lower by $5.5 than in other regions. For Northern Europe, discounts will remain the same, but the southern countries of the Old World will be able to count on an increase in discount. Compared to the Brent price, the Saudi Arab Extra Light will cost $10.3 less. Thus, despite OPEC's efforts to stabilize the oil market, the historic deal to reduce production remains so far only in theory. To see a more or less fair value, it is necessary to wait until quarantine measures are lifted in many countries.
Forex News Keep track of the latest currency market moves as they develop. Stay up-to-date on breaking forex news as well as relevant financial developments. Use our Forex tips. DailyFX is the leading portal for financial market news covering forex, commodities, and indices. Discover our charts, forecasts, analysis and more. Forex news from ForexLive. The fastest Foreign Exchange market reporting and analysis. Live Forex and economic news. Technical analysis, headlines, Live quotes. FOREX.com is a trading name of GAIN Capital - FOREX.com Canada Limited, 135 US Hwy 202/206, Bedminster, NJ 07921, USA is a member of the Investment Industry Regulatory Organization of Canada and Member of the Canadian Investor Protection Fund. GAIN Capital Group LLC is a wholly-owned subsidiary of StoneX Group Inc. Forex News - the fastest breaking news, useful Forex analysis, and Forex industry news, submitted from quality Forex news sources around the world.
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