Saudis Resist Buyer's Pressure to Reduce Prices
Saudi Arabia has apparently resisted considerable pressure from the wholespectrum of its term crude customers - US, European and Japanese - to agree toprice formula reductions for September. MEES understands that the Saudis haveinsisted on maintaining the same price formula for September as was applicablefor July and August, namely:
- Deliveries to US: Arabian Light, Alaska North Slope (ANS) spot price...
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