VOL. XLII

No. 06

8-February-1999

SAUDI ARABIA

As Market Conditions Worsen, Aramco Hikes Crude Prices InAll Regions For March

Saudi Aramcos pricing committee appears to have based itscrude prices on the relatively robust conditions which took hold for a briefperiod last month, seemingly ignoring the sharp collapse in refining marginsand general market deterioration which has developed in the interim. Termcustomers in Europe and Asia say that the bearish indicators were already wellentrenched when...