Middle East Economic Survey


No 50


Saudi Crude Prices Raised To Far East And Europe

Saudi Aramco announced its January 2012 crude pricing formulas to customers on 5 December, raising prices to the Far East, Northwest Europe and the Mediterranean and making only minor adjustments to pricing for the US. Saudi Aramco bases its pricing formulas to some extent on recent spot price movements for competing crudes in the regional markets. During November, spot prices for sour...