Middle East Economic Survey

VOL. LII

No 6

9-Feb-2009

OPEC/OIL PRICES/SAUDI ARABIA

Saudi Crude Prices Hiked To All Markets For March Deliveries

Saudi Aramco announced to customers on 4 February an increase in prices for all its crudes for delivery in March. The increases can be viewed against a background of tightening crude oil markets because of agreed OPEC production cuts, under which Saudi Arabia has pledged to reduce output by some 300,000 b/d below its current 1 January production target of...