Saudi Arabia offers Belarus lots of cheap oil

After Russia withdrew from OPEC+, Saudi Arabia turned to the consumers of Russian oil Urals, Reuters reports. Belarus is also among potential buyers.

The oil company Saudi Aramco plans to supply to the European market about 4.2 million barrels of oil daily ($ 25 per barrel), a source working for the international trading house told Reuters.

“They are knocking on all doors: buy a lot and cheap. They talk to all buyers (of Urals),” a source from a major oil company operating on the European market told Reuters.

Saudi Arabia’s offer may interest even traditional consumers of Urals, such as Belarus, Reuters writes.

“We’ve been working in this direction for a long time … We’ve met with the Saudis in London … Their prices are just excellent now,” said a source in Belarus to the agency.

At the end of last week, OPEC+ countries failed to agree with Russia to reduce oil production, which led to the collapse of the Russian ruble rate and oil prices. Rosneft spokesman Mikhail Leontiev said the agreement did not meet the interests of Russia.