EGYPT

Egypt Decides on Two Price Cuts Effective 1 April and 16 May 

Egypt has reduced its oil export prices by 75 cents a barrel retroactively to 1 April and by another 50-60 cents a barrel effective 16-31 May. These price cuts are shown in the table below (credit terms 60 days):

 16 May 86 1 April 86 16 March 86 ($/B) ($/B) ($/B) Suez blend (33°) 12.00 12.50 13.25 Ras al-Bihar (33°) 12.00 12.50 13.25 Belayim (26°) 11.25 11.75 12.50 Ras Budran (26°) 11.00 11.60 12.35...