VOL. XLIV

No. 02

8 January 2001

SAUDI ARABIA

Saudi Aramco Reduces Most Crude Prices And Narrows Differentials For February

Saudi Aramco announced on 3 January its contract prices for crude oil deliveries during February, reducing the prices of most of its grades and narrowing light-heavy differentials in all markets. Some buyers have taken this as an indication that Saudi Arabia expects to secure a major reduction in OPEC production when the organizations ministers gather on 17 January, but also...