The alliance is likely to extend the compensation period to October and November.
Commercial oil reserves in the United States increased by 2.03 million barrels last week.
Covid-19 cases are on the rise in India, the UK, Spain and parts of the US.
Investors are under the influence of a possible rise in COVID-19 cases.
Saudi Aramco will cut prices for all grades of oil for buyers from Asia and the United States in October.
The situation with oil prices has not demonstrated stability over the past 4 months.