Middle East Economic Survey

VOL. LII

No 28

13-Jul-2009

SAUDI ARABIA/OPEC/OIL PRICES

Saudi Aramco Cuts Crude Prices To US, Raises Prices For Lighter Grades To Europe And Asia

Saudi Aramco announced on 5 July adjustments in its crude price formulas for August, making reductions for its US customers, but for the most part increasing prices to Northwest West Europe, the Mediterranean and the Far East. Saudi Aramcos price formulas are mainly determined by the recent performance of competing crudes in...