EGYPT

Egypt Reduces Oil Prices and Exports 

In response to the recent slump in world oil prices Egypt has decided to reduce its January oil prices retroactively in two stages, and to cut exports temporarily by 200,000 b/d.

Compared with the previously announced January oil prices - which themselves were $1.00-1.35/B lower than the December 1985 prices (MEES, 13 January) - Egypt has decided to reduce its oil export prices for the various crudes by $1.00-1.50/B retroactively from 1...