NO. 15

13 JANUARY 1992

Oil Prices

Saudi February Prices Down for Light/Medium, Up for Heavy toUS/Europe

Saudi Aramco has reduced its FOB price formulas for Extra Light, Arab Lightand Arab Medium crudes for February to the US and Europe, while increasing themfor Arab Heavy. There was no change in the formulas for crudes destined to theFar East. The reductions for the various crudes for February as compared withJanuary are: Arab Light, down $0.15/B for the US and $0.10/B for Europe; Arab...