VOL. XLII

No. 23

7-June-1999

SAUDI ARABIA

Aramcos Price Cuts Fail To Match Continued Weakness In USSour Crude Market

On the face of it, Saudi Aramcos decision to cut its NorthAmerican prices for July by some 40-45 cents/B may seem somewhat generous. Butterm customers point out that the producer has been slow to respond to severalmonths of price weakness and that the reductions announced last week stillleave Saudi grades significantly more expensive than competing sour crudes.These buyers claim...