Egypt Reduces February Oil Prices by $3.20-3.70/B 

An official of the Egyptian General Petroleum Corporation (EGPC) confirmed in Cairo on 13 February that Egypt has reduced the export prices of its various types of crude oil by $3.20-3.70 a barrel with retroactive effect from 1 February.

These reductions follow two price cuts of $2.35-2.50/B and $1.50-1.801B in January. Egyptian price movements since December 1985 are shown in the following table (credit terms 60 days):

 1 Feb...