Middle East Economic Survey
VOL. XLVIII
No 19
9-May-2005
Saudi Crude Prices Raised Sharply For Western Markets In June
Saudi Aramco announced its June crude oil pricing formulas to customers on 4 May, increasing sharply the prices for all grades to the US and Europe, but narrowing the light-heavy differential for deliveries to Asia. While western customers complained that the price hikes canceled out the major cuts made for May deliveries as a means of increasing volumes to the market (MEES, 11...
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