DUBAI: Saudi Arabia is likely to announce its May official prices for crude oil on Monday, a source told Reuters, having delayed them until after talks held last week with global producers regarding output cuts.
National oil company Saudi Aramco postponed the release pending the talks led by Riyadh held on Thursday which produced a tentative deal that faltered after Mexico balked at its share of the proposed output cut.
Further discussions among G20 energy ministers on Friday also failed to reach a deal on output cuts.
Saudi Aramco typically issues its official selling prices (OSPs) by the 5th of each month, setting the trend for Iranian, Kuwaiti and Iraqi prices and affecting more than 12 million barrels of oil per day bound for Asia.
