# Saudi Arabia slashes April oil selling prices as OPEC+ fails to extend output curbs

> Saudi Aramco slashed its April crude official selling prices, including the largest-ever cut for Arab Light to Asian customers, after OPEC+ talks broke down. Oil prices fell about 10% on the day, their worst session in over five years.

- Date: 2020-03-08 · published 2020-03-08T12:00:00.000Z
- Category: geopolitics · region Asia · magnitude high
- Page: https://feedsoft.ai/events/4424-saudi-arabia-slashes-april-oil-selling-prices-as-opec-fails-to-extend-output
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Aggressive price cuts by the largest exporter signal a market share fight and ample supply, pressuring crude and biofuel-linked feed input values.

## Read by commodity

- SBO: bearish ▼
- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2020-03-09 | 1 | -22.5% | -10.0 | Saudi Aramco's record April OSP cuts and the collapse of OPEC+ curbs signaled a supply flood and price war, the direct trigger for Monday's Brent plunge. |
| BRENT | 2020-03-12 | 5 | -39.5% | -12.1 | Saudi Aramco's record cut to April official selling prices after OPEC+ talks collapsed signaled a price war and a supply flood, driving the sharp selloff. |
| BRENT | 2020-03-08 | 1 | -12.9% | -5.7 | Saudi Aramco made record cuts to its April official selling prices, signaling a price war and flooding supply, which triggered the sharp drop in oil. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-03-09 | [U.S. shale producers rush to cut spending, output as oil prices tank](https://feedsoft.ai/events/4425-u-s-shale-producers-rush-to-cut-spending-output-as-oil-prices-tank.md) | -27.3% | -36.6% |
| BRENT | 2026-05-03 | [OPEC+ countries, including Saudi Arabia and Russia, to boost oil production \| AP News](https://feedsoft.ai/events/19149-opec-countries-including-saudi-arabia-and-russia-to-boost-oil-production-ap-news.md) | -9.5% | -14.6% |
| BRENT | 2020-03-08 | [Oil prices crash by most since 1991 as Saudi Arabia launches price war \| CNN Business](https://feedsoft.ai/events/4426-oil-prices-crash-by-most-since-1991-as-saudi-arabia-launches-price-war-cnn.md) | -27.3% | -36.6% |
| BRENT | 2020-03-30 | [Oil falls amid Saudi Arabia-Russia price war, coronavirus hits demand](https://feedsoft.ai/events/5322-oil-falls-amid-saudi-arabia-russia-price-war-coronavirus-hits-demand.md) | +21.9% | -26.3% |
| BRENT | 2020-06-08 | [Crude prices fall after Saudis say bye bye to bonus output cuts \| Fossil Fuels \| Al Jazeera](https://feedsoft.ai/events/52789-crude-prices-fall-after-saudis-say-bye-bye-to-bonus-output-cuts-fossil-fuels-al.md) | -7.2% | +3.3% |
| WTI | 2020-03-09 | [U.S. shale producers rush to cut spending, output as oil prices tank](https://feedsoft.ai/events/4425-u-s-shale-producers-rush-to-cut-spending-output-as-oil-prices-tank.md) | -23.0% | -31.2% |
| WTI | 2020-03-08 | [Oil prices crash by most since 1991 as Saudi Arabia launches price war \| CNN Business](https://feedsoft.ai/events/4426-oil-prices-crash-by-most-since-1991-as-saudi-arabia-launches-price-war-cnn.md) | -23.0% | -31.2% |
| WTI | 2020-03-30 | [Oil falls amid Saudi Arabia-Russia price war, coronavirus hits demand](https://feedsoft.ai/events/5322-oil-falls-amid-saudi-arabia-russia-price-war-coronavirus-hits-demand.md) | +64.1% | -28.3% |

## Sources

- spglobal.com: https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/030820-saudi-arabia-slashes-april-osps-after-breakdown-of-opec-talks

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.