Saudi Aramco decided to reduce the prices of propane and butane in the month of April, bringing the price of tons to $ 240, after reducing its price by almost half, as it was priced at $ 480 per ton, and the price determined by the Kingdom is a pricing for LNG sales to Asia.
Saudi Aramco reduces gas prices by half
Aramco reduced the unprecedented price of propane to half, the reduction amounted to $ 46.5% per ton, to be sold in April, at a price of 230 tons, and reduced the price of butane to a price of $ 240 per ton, and in March it was $ 480 per ton, meaning it cut it in half.
The Saudi Energy Ministry said that it seeks to achieve during the month of May an increase in exports in Saudi Arabia, to increase production from 600 thousand barrels per day to 10.6 million barrels per day.
It is worth noting that negotiations between OPEC countries failed to reach a reduction in production, so the Kingdom decided to start from April to increase production, and demanded a price deduction, which led to a reduction in oil prices.
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