VOL. XLIII

No. 28

10-July-2000

SAUDI ARABIA

Saudi Aramco Makes Largest Cut In Almost 10 years To Contract Crude Prices For Europe

Following the recent plunge in sour crude oil prices in the European market, Saudi Aramco announced on 5 July a set of contract prices for August which includes the largest cut for European grades in almost 10 years. MEES understands the Saudi Aramcos reduction in the price of all grades to Europe in August by $2.50/B is the biggest month-on-month cut in contract...