No. 41

8 July 1996


Saudi Aramco Surprises US Buyers With Price Cuts For August

The decision on the part of Saudi Aramco to reduce its prices by some 10-20 cents/B on sales of three out of four crude grades sold into the United States during August caught more than a few buyers in that market by surprise last week. Rather than cuts, these customers had braced themselves for price increases out of Dhahran on the theory that Aramco would follow its established...