NO. 2

10 OCTOBER 1994

Oil Prices

Aramco's November US Price Formulas Annul Earlier Cuts

With its heavy increases in price formulas for November crude deliveries toUS destinations - 30 cents/B for Arab Light, 45 cents/B for Arab Medium and 60cents/B for Arab Heavy - Saudi Aramco has effectively annulled the formula pricecuts which it introduced for October, leaving the November formulas virtuallythe same as those prevailing in September. US customers sounded out by MEESappear to be...