Middle East Economic Survey

VOL. XLVIII

No 50

12-December-2005

OPEC/OIL PRICES/SAUDI ARABIA

Saudi Aramco Hikes Most January Crude Prices To Europe, Narrows Asia/US Spreads

Saudi Aramco announced its January crude oil pricing formulas to customers on 5 December, increasing prices for all but one grade to Europe while reducing the prices for light crudes and increasing prices for heavier grades to both the US and Asia. While the European pricing shows the companys usual policy of setting prices in...