VOL. XLV

No 23

10 June 2002

SAUDI ARABIA

Saudi Aramco Cuts July Pricing ToUS, Increases To Europe And Narrows DifferentialsTo Asia

SaudiAramco announced to customers on 5 June its contractprices for July deliveries, including cuts for all grades to the US, an increase for all grades to Europe, and a narrowing of the light-heavy differential to Asia. MEES soundings indicate that the July pricing wasmuch as anticipated by customers, and reflects Saudi Aramcosnormal policy of tracking crude and...