SAUDI ARABIA/OIL PRICES/OPEC

 

Saudi Crude Prices Raised To West, Reduced For Far East

Saudi Aramco on 5 May announced its June crude pricing formulas to customers, raising the prices for all crudes to the US, Northwest Europe and the Mediterranean and reducing those to the Far East. Saudi Aramco normally bases its pricing formulas mainly on recent spot price movements for competing crudes in the regional markets. Of late Saudi Arabia has increased production and has...