Saudi Arabia delays setting May prices, looks to Opec meeting to settle price war

DUBAI: Saudi Arabia is taking unprecedented action in delaying the release of its international crude selling prices by five days, a senior Saudi source familiar with the matter said on Sunday, as the kingdom and other major producers seek to halt the free-fall in worldwide crude prices.

But oil prices fell anew at the open of Asian trading as the weekend did not bring major producers Saudi Arabia, Russia and the United States any closer to resolving a growing supply glut that is overwhelming markets.