VOL. XLI

No. 15

13-April-1998

SAUDI ARABIA

Saudi Aramco Intends To Meet Term Contracts But Declares Incremental Volumes Will BeSeverely Restricted

Saudi Aramco has sent an official letter to its term crude customers notifying them ofits strict adherence to the new OPEC/non-OPEC production cutback agreement under which theKingdom is obligated to reduce crude oil output by 300,000 b/d - from 8.748mn b/d to8.448mn b/d - with effect from 1 April. As a result, Saudi Aramco stresses that, while it...