Saudi Arabia has reduced its oil prices for May shipments to Asia, marking a four-month low, as the OPEC+ alliance prepares for an increase in supply. Saudi Arabia, recognized as the leading oil exporter globally, announced on Sunday a significant reduction in crude oil prices for Asian buyers for May, marking the lowest prices seen in Read More
On Thursday, eight OPEC+ nations reached an unexpected consensus to expedite their strategy for phasing out oil production cuts, opting to raise output by 411,000 barrels per day in May. This decision led to a continuation of the significant declines in oil prices observed earlier. Oil prices, having already decreased by more than 4% following Read More
