This is reported by Bloomberg.

It is noted that Iraq lowered Basrah Light oil prices by $ 5 per barrel for supplies to Asia in April. Kuwait has reduced the selling price for Asian buyers by $ 6.

Also, according to the agency, the United Arab Emirates reduced the cost of its four grades for February sales by $ 1.63 per barrel since January.

On March 9, oil prices fell more than 30% after the OPEC + meeting, which culminated in Russia's withdrawal from the deal.

Later, Saudi Aramco announced plans to increase its oil production capacity by 1 million barrels per day. Such an instruction was received by the company from the Ministry of Energy. The deadline is not specified.

Russian Energy Minister Alexander Novak commented on this decision by Saudi Arabia.