The reason for the difficulties in the negotiations to reduce #oil production was the ultimatum put forward by #SaudiArabia: the party wanted Russia to reduce production more than anyone else, sources familiar with the situation said.

For example, Saudi Arabia raised production from 9.8 million barrels to 12.3 million. This means that the reduction compared to March will be only 0.5 million barrels. In the UAE, production increased by 1 million barrels, in Iran - by 200 thousand.

Russia did not increase production in April, maintaining it at 11.2 million, because Moscow insists that quotas be applied to the average volume for the quarter.

Earlier Tuesday, oil went up in the hope of a new #OPEC + agreement.

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