VOL. XLV

No 19

13 May 2002

SAUDI ARABIA

Saudi AramcoRaises June Price Of Most Crude Grades In Response ToSour Crudes Strength

SaudiAramco announced its June crude pricing formulas on 6May, raising the contract prices for most grades. As usual the company basedits month ahead pricing on the performance in spot markets in the previousmonth of competing crudes and on regional productsprices. In April the market for sour crudestightened, with Venezuelan crudes in relatively shortsupply following a...