VOL. XLV
No 45
11-November-2002
SAUDI ARABIA
Saudi Crude Prices For December Reflect Divergent Regional Market Conditions
On 5 November Saudi Aramco announced to customers its crude oil contract formulas for December, reducing prices to the US, increasing prices to Europe, and widening the light-heavy differential in prices for Asia. As usual, the new prices reflected spot market conditions in the previous month in this case October and the divergent approaches to the three regions were a...
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