NO. 6

12 NOVEMBER 1990

Oil Prices

Saudi Arabia Reduces December Price Formulas for Europe by $1/B and for USby $0.20/B

Saudi Arabia has reduced its December crude contract price formulas forEurope and the US by $1.00/B and $0.20/B respectively, while retaining the sameformula for the Far East as in November. The means that differentials betweenArabian Light and Arabian Heavy remain at $4.00/B for the US and the Far Eastand $5.00/B for Europe (MEES, 8 October) - for analysis see page A2....