VOL. XLVI

No 15

14-April-2003

OIL PRICES

Saudi Crude Prices For May Show Reductions For Lighter Grades

Saudi Aramco announced to customers on 6 April its crude price formulas for May deliveries, reducing the price for all light grades in a bid to keep prices competitive in a market which is expected to be well supplied with arriving crude after recent OPEC production increases. Prices for heavier grades were increased in the US and decreased in Europe because of the respective strengthening and...