Kuwait Raises May Price Formula
Kuwait's KPC has raised the price formula of Kuwait export crude (KEC) for its Asiancustomers by 15 cents/B to Oman/Dubai minus $1.30/B. KPC introduced this pricing formulafor its Asian customers beginning with April shipments (MEES, 16 March). The Maydifferential between KEC and the former Saudi yardstick Arab Medium for the month is 30cents/B. The following table shows the crude price formulas for KEC for April and May 1998...