VOL. XLIII
No. 08
21 February 2000
SAUDI ARABIA
Saudi March Deliveries Reports Drive Tense Markets To New High
Demonstrating just how tense crude oil markets are in the run-up to OPECs March meeting, prices were driven to a nine-year high after reports emerged that Saudi Aramco had told customers it was cutting crude volumes delivered to the US, Europe and the Far East by 15-40% of normal contract volumes. This drew an immediate sharp response from the US followed by a denial by Saudi Aramco,...
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