VOL. XL

No. 27

7-July-1997

SAUDI ARABIA

Under Pressure From Narrow Brent-Dubai Spread, Aramco Slashes Asian Crude Prices

With no relief in sight from the competitive pressures which have developed in the FarEast from the persistently narrow price differential between Brent and Dubai, Saudi Aramcomoved in dramatic fashion last week to shore up demand for its hard-hit light grades.These crudes have come under severe threat from the large number of cheap Brent-linkedWest African cargoes which...