EGYPT
Egypt Cuts Oil Prices by $1.25/B till End of August
On 20 August Egypt announced a sharp cut of $1.25 a barrel in the export prices of its various grades of crude oil for the rest of August. However it is not clear if the price cut is backdated to 15 August or comes into effect on the day it was announced (20 August). The announcement by the Egyptian General Petroleum Corporation (EGPC) said that the price cut, the first since 16 February, was in line with the world market situation....
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