NO. 8


Saudi Aramco

Saudi AramcoSelects WTI Price Formula For US Market

MEES has confirmedthat, as from 1 January 1993, Saudi Aramco will apply a new price formula forcrude sales to the US market based exclusively on the West Texas Intermediate (WTI)crude price benchmark, instead of the Alaska North Slope (ANS) price yardstickcurrently in use. Much criticism has been levied against the use of ANS as amarker crude due to its meager availability at the Gulf coast and the...