VOL. XXXIV

NO. 3

22-OCTOBER-1990

Egypt

Egypt Reduces Oil Prices by $3.00/B

Egypt reduced the prices of its various grades of crude oil by $3.00/B witheffect from 16 October. This price cut, equivalent to the two increasesintroduced on 7 and 10 October, takes the prices back to the level they stood aton 4 October. These price movements are shown in the table below (credit terms60 days):

 16 Oct 10 Oct 7 Oct 4 Oct ($/B) ($/B) ($/B) ($/B)
 Ras al-Bihar (33) 35.30 38.30 36.30 35.30 Suez Blend (33) 35.00...