VOL. XLIV

No. 03

15 January 2001

SAUDI ARABIA

Crude Price Rise Continues As Saudi Arabia Cuts February Volumes To Customers

The prices of the WTI and Brent benchmark crudes continued to rise last week on market expectation that OPEC would cut production when its ministers meet in Vienna on 17 January. The upward trend was given added impetus on 11 January when Saudi Arabia confirmed to contract customers that their February delivery volumes would be reduced by as much as 20%. As news spread the...