Middle East Economic Survey

VOL. XLVIII

No 28

11-July-2005

Saudi Crude Prices For August Reduced For All But Lightest Grades

Saudi Aramco announced its August crude oil pricing formulas to customers on 5 July, reducing the price for all but the lightest grades to all three markets. As usual the company based its pricing decisions on the performance of competing crudes in the three regional spot markets and on the strength of the three largest products markets. In June the crude oil spot market was...