VOL. XL

No. 36

8 September 1997

SAUDI ARABIA

Saudi Aramco Surprises US Crude Buyers With Hefty Price Rises For October

News last week that Saudi Aramco had increased its October crude prices by as much as45 cents/B appeared to take US term buyers by surprise, precipitating a last-minutescramble for alternative supplies. While interest in Iraq's Kirkuk and Basrah Light crudeshas been decidedly muted on the US Gulf Coast since exports started up again in August, anumber of companies which have...