EGYPT

Egypt Reduces Prices of Main Cruder by 75 Cents/B in May

Egypt is reducing the prices of its main crudes (Suez blend, Belayim, Ras Budran and Ras Gharib) by 75 cents a barrel with effect from 1 May. No prices have so far been announced for the Ras al-Bihar and Belayim-North crudes (the latter will reportedly all be used locally in May). The prices of two more crudes (Zeit Bay and Ras Gharib Heavy) have been quoted for the first time in May. The Zeit Bay crude is similar in quality to...