OREANDA-NEWS. The price of Russian Urals oil in North-Western Europe on April 14 decreased compared to April 9 by $ 3.59 and amounted to $ 16.71 per barrel, despite the conclusion of the OPEC+ deal. The discount on Urals remains the same - $ 3.7 per barrel. This is stated in the materials of the Argus agency.

Representatives of OPEC+ countries agreed on April 12 to reduce oil production in May - June by 9.7 million barrels per day. "But the proposed measures to reduce the production of raw materials, according to many market participants, were belated and insufficient", the agency said in a report.

Low demand for oil pushed Saudi Arabian state-owned company Saudi Aramco to lower contract prices for May shipments for buyers from the Asia-Pacific Region (APR) and the Mediterranean. According to Argus, prices for Urals may change after the release of the May program of shipments from Russian ports.