VOL. XXXVI

NO. 46

16 AUGUST 1993

SAUDI ARABIA

Saudi Aramco Decides On WTI Price Formula For US Market BeginningOctober

MEES understands that Saudi Aramco has told its US customers that it willstart using a price formula based 100% on West Texas Intermediate (WTI) witheffect from October as a benchmark for Saudi crude oil sales to the US. SaudiAramco held a series of separate meetings with its customers in New Yorkduring the past two weeks and informed them of the decision. However, there hasso far...