6 DECEMBER 1993
Saudi Aramco Changes To WTI Base For US January Pricing
As expected, Saudi Arabia has notified its term crude customers of a switchfrom Alaska North Slope (ANS) to West Texas Intermediate (WTI) as the basis forits crude pricing formula for deliveries to US destinations, as from January1994. The new formula assumes a differential premium of $2.40/B for WTI overANS. On this basis, US January price formulas remain unchanged for Arabian Lightand Extra...