VOL. XLI
No. 33
17-August-1998
OPEC/SAUDI ARABIA/IRAN
Saudi Aramco Slashes September Crude Allocations To TermCustomers By 18-19%
Unhappy with the lack of reaction to the output reductions which have been imposed todate, Saudi Aramco took decisive action last week to shore up market sentiment when itnotified its term buyers of an unprecedented cutback versus contractual entitlements forSeptember. By invoking a clause in its contracts which allows the producer to reducecontract volumes below...
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