OREANDA-NEWS. Saudi oil company Saudi Aramco cut crude oil prices for buyers from Asia and the US in March. The decision was made amid declining demand due to an outbreak of 2019-nCoV pneumonia, an American news agency said Thursday.

So, for American buyers, prices will fall by $ 0.2-0.3 per barrel next month. In turn, the market price of a barrel of Arab Light oil for Asia will decrease by $ 0.8. The cost of futures for Brent crude oil for delivery in April 2020 during trading on the ICE exchange in London is growing by 1.45%, to $ 56.04 per barrel. Futures for oil WTI (Light Sweet) rise in price by 1.95% - up to $ 51.74 per barrel.

Earlier it became known that the experts of the OPEC + technical committee on Thursday will continue the negotiations that began on February 4 in order to analyze the effect of the outbreak of coronavirus from China on the oil market and discuss in this connection the possibility of reducing production.