VOL. XLVI

No 45

10-November-2003

OPEC

OIL PRICES

Saudi Crude Prices Reduced For US And Europe, Mainly Raised For Asia

Saudi Aramco announced its December crude oil pricing formulas to customers on 5 November, reducing the price for all grades to the US and European markets, and increasing all but the price of Arab Heavy to Asia. As usual the price formulas reflect the performance of competing crude oil blends in the three main regional spot markets, and also regional products pricing trends....