VOL. XL

No. 6

10-February-1997

SAUDI ARABIA

Saudi Crude Prices Show Mainly Downward Trend For March

Sharply deteriorating conditions in the US sour crude market provoked a decisive response from Saudi Aramco last week when it moved to drop its term prices for March sales to its North American customers by 10-55 cents/B. Prices for sour grade alternatives such as West Texas Sour, the new Gulf of Mexico Mars Blend, Venezuela's Furrial, and Ecuadorian Oriente have come under heavy selling...