Media: Iraq and Kuwait Cut Oil Prices after Saudi Arabia
So, Iraq reduced the cost of a barrel of Basrah Light oil for April delivery by $ 5. At the same time, according to agency sources, the state company State Oil Marketing Organization (SOMO) plans to increase exports next month. Kuwait, in turn, lowered prices for buyers from Asia by $ 6 per barrel - the same amount earlier reduced the cost of supplies of raw materials to East and Southeast Asia Saudi Aramco (a company engaged in oil production in Saudi Arabia).
As The Wall Street Journal reported on March 8, citing a Saudi official, this price cut was aimed directly at weakening Russian positions. On March 9, a source at OPEC informed that Saudi Arabia nevertheless did not declare a price war for the Russian Federation and considers Russia to be the most important partner in the oil market.