No. 02

12 January 1998


Aramco Drops February Crude Prices As Mideast Sellers StruggleTo Place New Output

The Far East may be the outlet of choice for Mideast producerswith additional oil to sell, but the introduction of OPEC's new quota system at thebeginning of this month has not occurred at an auspicious time in terms of the region'sability to absorb excess barrels. With kerosene prices touching 10-year lows in the faceof mild winter weather and high product stocks,...