NO. 23

9 MARCH 1992

Oil Prices

Saudi Arabia Narrows Light/Heavy Differentials in April Price Formulas

Saudi Aramco has introduced a significant narrowing of light/heavydifferentials in its April price formulas, with the spread between Arab Lightand Arab Heavy being contracted by between 20 and 30 cents/B according todestination. This is understood to be in line with narrowing light/heavy pricespreads in both crude and product markets (with fuel oil prices holding upbetter than those...