Saudi Arabia has put forward a new proposal for an oil deal within OPEC+

Photo: depositphotos/Kokhanchikov

Saudi Arabia has made a proposal to reach agreement on the oil market, according to Bloomberg.

According to the Agency, Riyadh has offered Russia to reduce production by 1.5 million barrels a day. That was the main disagreement during the March negotiations between the two countries in the format of OPEC+.

Russia also offers the use of quotas in accordance with the average volume for the quarter. Saudi Arabia does not agree with this approach and insists on the decline in production from Russia.

on 7 April, oil prices rose again. So, futures of Brent crude stood at 34.12 per barrel. The cost of energy WTI amounted to 27.15 USD per barrel.

At the same time, the ruble continues to strengthen its position. So, the dollar as of 6 April dropped to the same period in 75,96 of the ruble. The Euro could be bought for a price of 81.99 ruble. This is the performance level of mid-March 2020.

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In the United States among representatives of the Republican wing of the Congress confirmed the view about the need to strictly prevent the destabilization of the world economy. They believe that the current problems are to blame including Russia and Saudi Arabia that produce oil in excessive amounts.

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