VOL. XXXVII

NO. 23

7 MARCH 1994

Oil Prices

Aramco Lowers Far East Formulas For April, Europe Sees Hikes, US Steady

Responding to regional factors including upcoming second quarter refineryturnarounds, Tonen's unscheduled FCC unit shutdown which has displaced someMideast barrels, and general light sour crude weakness in Japan, Saudi Aramcodropped its price formulas to the Far East by some 5-15 cents/B for Aprildeliveries. The largest cut - 15 cents/B - was reserved for Aramco's extra lightBerri...