VOL. XLI

No. 38

21-September-1998

SAUDI ARABIA

Saudi Aramco Surprises Crude Buyers With Modest 5% Export Cut For October

Saudi Aramco more than delivered on assurances that it would impose a less burdensomeexport cut on term customers in October than it did in September. After laying thegroundwork over the past several weeks for a reduction in the 9-13% range, Aramco actuallyrolled out a far less severe cutback of 5% on October sales to FOB customers (MEES,31 August). While the modest reduction...