VOL. XXXIV

NO. 27

8 APRIL 1991

Oil Prices

Saudi Arabia Cuts May Price Formulas

Saudi Aramco has made significant cuts in its FOB price formulas for May,ranging between $0.35/B and $1.10/B. The reductions for the various crudes forMay as compared with April are: Arabian Light, down $0.35/B for the US, $0.50/Bfor Europe and $0.60/B for the Far East; Arabian Medium, down $0.35/B for theUS, $0.50/B for Europe and $0.60/B for the Far East; Arabian Heavy, down $0.75/Bfor the US, $0.50/B for Europe and...