EGYPT

Egypt Decides on Further Price and Output Cuts 

Egypt has reduced its oil prices retroactively in two stages for the first and second halves of March and to keep them mainly unchanged at second-half March levels for the first 20 days of April - presumably until after the 15 April OPEC meeting. It has also decided to introduce further cuts in output from its main oilfields in the Gulf of Suez and Sinai.

Price cuts of $4.95-5.25 a barrel were introduced on oil liftings during the...