VOL. XLI

No. 10

9-March-1998

SAUDI ARABIA

Aramco Moves To Delay Capital Spending Plans In Wake Of Crude Price Drop

Saudi Aramco ushered in four consecutive months of price cuts last week, knocking up to35 cents/B off its April term crude prices. The reductions put added strain on an exportslate already under considerable pressure from the sharp decline in benchmark oil pricesworld-wide. The producer is now struggling under an export price for Arab Light which inrecent days has fallen below...