VOL. XLI

No. 19

11-May-1998

SAUDI ARABIA

Saudi Aramco Increases June Crude Prices As Production Cutbacks Begin To Sink In

Market participants may be fixated on the possibility of further production cuts on thepart of the Riyadh group, but the release of Saudi Aramco's term prices for June indicatethat the producer and its Mexican and Venezuelan counterparts are reaping at least somebenefit from the reductions which have been imposed to date. This is particularly true inthe key US Gulf Coast...