VOL. XXXI

NO. 48

5-SEPTEMBER-1988

SAUDI ARABIA

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...