Saudi Arabia offers additional oil volumes above contractual to some of its cliens, Bloomberg informs. It happend after OPEC's members decided to quit agreement on output curbs.

Saudi Arabian Oil Co. offered extra shipments in August to at least two of its clients in Asia.

Proposal came at time when investors expected any steps from Saudi Arabia to fill a gap in supply that might be caused by extension of US sanctions against Iran, reduction in output in Venezuela and disruptions in Libya.

Brent oil lost 0,8% today morning and cost $74,76 per barrel. WTI oil price dropped by 0,6% to $70,60 per barrel.

Import of oil from Saudi Arabia to the US grew in July by 51%. The country started increasing output in June, when comliance with output reduction agreement was as low as 26%.