VOL. XLIII

No. 15

10 April 2000

SAUDI ARABIA

Saudi Aramco Cuts Price Of Most Crude Grades For May In Weakening Market

On 5 April Saudi Aramco announced cuts in the prices of most of its crude oil prices for delivery to the US, European and Asian markets during May, but the changes narrowed the differential between light/medium and heavy grades in the US and Asian markets. This was viewed as tough on operators of sophisticated refineries at a time when the markets have weakened on balance.

Crude...