Middle East Economic Survey

VOL. LII

No 19

11-May-2009

OPEC/OIL PRICES/SAUDI ARABIA

Saudi Aramco Cuts Crude Prices For US Delivery, Raises Most Others To Europe And Asia

Saudi Aramco on 5 May announced the price adjustment factors for its crudes for June deliveries. Prices to the US were reduced while most prices to Europe and Asia were marked up. Saudi Aramcos price formulas are mainly determined by the performance of relevant crudes in regional spot markets, and the latest prices are intended to...