OPEC

Indonesia Cuts Prices of Medium and Heavy Crudes 

Indonesia has notified its customers of a number of reductions in the prices of its medium and heavy crudes, effective 1 August. The largest cut is on heavy (20° API) Duri crude, which is down $1.95/B to $24/B, while medium crudes such as Cinta, Arimbi, Sumatra and Handil, have been reduced by 20 cents/B in line with the majority decision on differentials at the recent OPEC conference in Geneva (MEES, 29 July). In addition a...