Middle East Economic Survey

VOL. LII

No 32

10-Aug-2009

SAUDI ARABIA/OPEC/OIL PRICES

Saudi Aramco Raises Crude Prices To US, Cuts Most Prices To Other Destinations

Saudi Aramco announced to customers on 5 August the adjustments in its crude price formulas for September, raising prices to the US while reducing most other prices to Northwest Europe, the Mediterranean and the Far East. Saudi Aramcos price formulas are mainly determined by the recent performance of competing crudes in regional spot...