LONDON, April 7. /TASS/. Saudi Arabia has slashed its prices for Asian buyers to a four-year low prior to an increase in OPEC+ supplies, Reuters reported.

State oil company Saudi Aramco cut the May official selling price (OSP) for flagship Arab Light crude by $2.30 to $1.20 a barrel above the average of Oman and Dubai prices, the agency said citing a pricing document from the producer. The drop marks the biggest decline in prices for Saudi oil in more than two years, Reuters noted.

Eight OPEC+ countries participating in voluntary oil production cuts decided on April 3 to change the output schedule and boost oil production in May by 411,000 barrels daily, OPEC said earlier in a statement on its website.

Eight OPEC+ countries have been voluntarily reducing oil output by a total of 2.2 mln barrels per day since the beginning of 2024 for balancing the market. Those countries started a gradual increase in output in April 2025, which is expected to last until September 2026. That said, OPEC+ admits that boosting of production may be suspended, or the alliance may even return to cuts depending on the market situation.