VOL. XLI
No. 11
16-March-1998
OIL PRICES
Kuwait's KPC Inaugurates New Price Benchmark for Asian Sales
Kuwait's KPC has inaugurated its new pricing formula for crude sales to Asian customers- which uses the Oman/Dubai spot average as its benchmark instead of the previous SaudiArab Medium yardstick - by setting an April price which effectively widens thedifferential for Kuwait export crude (KEC) below Arab Medium by 15 cents/B to 35 cents/Bas compared to 20 cents/B in March.
The April price...
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