Middle East Economic Survey

VOL. XLVIII

No 7

14-February-2005

Saudi Crude Prices Mainly Raised For March Deliveries

Saudi Aramco announced its March crude oil pricing formulas to customers on 7 February, raising the prices for most grades. However, for the western markets the company raised the cost of lighter grades more than heavier crudes, while for Asia the situation was reversed. The changes reflect the performance of competing crudes and the spot market during January, where all three...