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Saudis Delay Crude Pricing Decision as Oil-Cut Talks Drag On

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Saudi Arabia delayed a key pricing decision for its crude exports yet again as talks to secure an agreement among global producers for an unprecedented joint supply cut entered a fourth day.

State producer Saudi Aramco is now set to decide on and announce pricing for its May crude exports on Monday, according to a person with knowledge of the situation. Aramco had planned to issue official selling prices, or OSPs, on April 5. It delayed the release to give producers time to discuss output cuts amid a coronavirus-induced collapse in demand.