VOL. XL

No. 45

10-November-1997

SAUDI ARABIA

Saudi Arabia Shows Steady Hand On Crude Pricing Front Ahead Of OPECMeeting

Sour crude prices continued their upward ascent relative to sweet markers in Europelast month, propelled higher by a combination of supply-driven events and underlyingproduct strength at the bottom of the refined barrel. A sudden decision on the part ofIraq's marketing organization SOMO to postpone three Kirkuk cargoes scheduled to load outof Ceyhan in November, continued...