Three-phase spheroids stand behind pipelines at Saudi Aramco's crude oil processing facility in Abqaiq, Saudi Arabia. (DINA KHRENNIKOVA / BLOOMBERG)

Saudi Aramco delayed the release of its key monthly oil pricing list until later this week as the kingdom trades barbs with Russia about the OPEC+ meeting aimed at ending the collapse in oil prices.

A new date for the announcement of Aramco’s official selling prices for May is not yet set, and the release could be pushed to Tuesday or Thursday, according to a person with knowledge of the situation who asked not to be identified because the information is private. It was due to be published today.

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The state oil giant is delaying the announcement to await an indication on what may happen at an OPEC+ meeting planned for Thursday to discuss crude production levels after the collapse in demand due to coronavirus. 

The Saudi, Russian exchange of diplomatic attacks is opening a fresh rift between the world’s two largest oil exporters and jeopardizing a deal to cut production.

This will be the second month in a row that Aramco delays its key pricing announcement beyond its traditional deadline of releasing the numbers by the 5th of the month. 

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The pricing decision may affect about 14 million barrels a day of regional oil exports since other Persian Gulf producers often follow Aramco’s lead in setting prices for their own shipments.