Middle East Economic Survey

VOL. LIV

No 19

9-May-2011

Saudi Crude Pricing Shows Mixed Changes For June Deliveries

Saudi Aramco announced its June crude oil pricing formulas for customers on 3 May, with prices to Asia and Northwest Europe being mainly raised and prices for heavier grades being reduced to the US and the Mediterranean. Saudi Aramco normally bases its pricing primarily on recent spot price movements for competing crudes in the three regional markets. Sour crude prices decreased...