Middle East Economic Survey

VOL. LIII

No 15

12-April-2010

Saudi Crude Prices For May Reduced For Heavier Grades

Saudi Aramco announced its May crude pricing formulas to customers on 4 April, reducing the price of heavier grades to all destinations but raising the price for lighter crudes to the US and Asia. As usual, the pricing was based mainly on the performance of competing sour crudes in the regional spot markets. Prices for sour crudes fell in all three markets in March as a result of...