VOL. XLI

No. 06

9-February-1998

SAUDI ARABIA

March Price Cuts Leave Saudi Crudes At Record Lows Relative To Regional Benchmarks

Saudi Aramco may have set a number of records last week with its new prices for March,but the lack of market reaction to the changes is an indicator of just how weak sour crudefundamentals have become over the past several months. While Aramco's largest cuts wereactually reserved for Europe, it was Asia which took home the top prize in terms ofprecedent setters on the...