VOL. XXXVI

NO. 41

12-JULY-1993

OIL PRICES

Kuwait Alters Basis For Pricing Formula For Crude Deliveries To US

Kuwait's KPC has made a significant change in the composition of thebaselines for its pricing formula for deliveries of Kuwaiti crude oil to USdestinations. Instead of relying 100% on Alaskan North Slope (ANS) crude as thebenchmark for its US price formula (as both Saudi Arabia and Kuwait havehitherto been doing), as from the third quarter - initially on a trial basis -KPC will be basing...