SAUDI ARABIA GIVES PRICE DISCOUNT TO REVIVE FLAGGING OIL SALES

MEES learns from an authoritative Saudi source that Saudi Arabia has decided to give its oil customers a discount on every barrel of crude oil lifted from the Kingdom during the month of May. However, in order to qualify for the discount - which will be applicable to all export liftings regardless of destination - customers will have to lift no less than the minimum volumes specified in their contracts. Failure to meet this...