EGYPT

Oil Prices up 10 Cents/B from 1 July; Output Level under Consideration

Egypt has decided to raise the export prices of its various grades of crude oil by 10 cents a barrel with effect from 1 July. This is the first increase in the price of the top quality Suez and Ras al-Bihar crudes since 16 February of this year. The prices of the lower grade Ras Budran and Ras Gharib crudes were raised 15 cents a barrel on 1 June. The new prices are shown in the table below (credit terms 60 days):...