Qatar Petroleum cut official selling prices for April crude earnings by 51 percent, the official Qatar News Agency reported, placing both grades at the bottom in over twenty decades.

“The nation’s Land first grade sold at $17.78 per barrel, compared with $36.26 the prior month. The state-run energy firm fixed the correct selling price due to its Marine primitive at $17.53 a barrel, down from $35.96,” the report stated.

The April OSPs would be the cheapest to both grades since June 1999, based on statistics compiled by Bloomberg. Crude prices have dropped worldwide amid excess distribution and a reduction of demand because of coronavirus lockdowns.

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