Middle East Economic Survey

VOL. L

No 28

9-July-2007

OPEC/OIL PRICES/SAUDI ARABIA

Saudi Crude Prices For August Reduced For US, Increased For Europe, Mixed For Asia

Saudi Aramco announced its August crude oil pricing formulas to customers on 4 July, reducing the prices for all grades to be delivered to the US, while increasing prices for Europe and narrowing the light-heavy price differential for the Far East. As usual, the August prices reflected the recent performance of marker crudes on the...