VOL. XLVI

No 28

14-July-2003

SAUDI ARABIA/OPEC

OIL PRICES

Saudi Crude Prices For August Show Decreases For Light Grades

Saudi Aramco announced its August crude oil pricing formulas to customers on 6 July, reducing prices for lighter grades to all destinations, and increasing the price for heavier grades to Europe and Asia. As usual the pricing formulas were based mainly on the performance of competing crudes on the spot markets in the month before the new prices were set, and also on the strength...