NO. 27


Oil Prices

Saudi Arabia Lowers Price Formulas for Europe by 15-30 Cents/B

Saudi Arabia's crude contract price formulas for European deliveries for themonth of May have been reduced by 15 cents/B for Arabian Light and Extra LightBerri and 30 cents/B for the Arabian Medium and Heavy crudes. The formulas tothe US and the Far East remain unchanged. The price applicable for May to thefour Aramco partners - Exxon, Mobil, Texaco and Chevron - for deliveries tothe US,...