VOL. XLIII

No. 32

7-August-2000

SAUDI ARABIA

Saudi Aramco Raises Crude Prices To US And Europe While Cutting Asian Prices

Saudi Aramcos announcement on 2 August of its September contract prices for crude, with increases for most grades to the US and Europe and decreases for all but the lightest grade to Asia, initially took some market players by surprise. At a time when Saudi Arabia is leading OPEC members in raising exports in a bid to curb recent high crude oil prices, some buyers expected the...