VOL. XXXVII

NO. 37

13 JUNE 1994

Oil Prices

Saudi Aramco's July Price Terms Disappoint Most US Buyers

Saudi Aramco's decision last week to increase July prices to the US onheavier grades by some 5-10 cents/B while keeping those for lighter crudestreams unchanged apparently came as a shock to some of the company's largeterm buyers, many of whom had expected Dhahran to lower differentials relativeto benchmark WTI in order to compensate for the recent surge in demand for thedomestic grade in the...