VOL. XLVI

No 32

11-August-2003

SAUDIA ARABIA

OIL PRICES

Saudi Crude Price Changes A Mixed Bag For September Deliveries

Saudi Aramco announced its September crude oil pricing formulas to customers on 5 August, reducing prices to the US, increasing prices to Europe, and widening the light-heavy differential for Asia. As usual the pricing formulas were based on the performances of competing crude on the three regional spot markets during the month before prices were decided, and to some extent on...