Middle East Economic Survey

VOL. XLVII

No 32

09-August-2004

OIL PRICES

Saudi Crude Prices For September Reflect Differing Conditions In Regional Markets

Saudi Aramco announced its September crude oil pricing formulas to customers on 5 August, reducing the prices for most grades to the US, increasing the prices for all grades to Europe, and widening the light-heavy differential for crude deliveries to Asia. While the new pricing as usual reflects the performance of a number of crude grades on spot...