VOL. XLVII

No 02

12-January-2004

SAUDI ARABIA

Saudi Crude Prices For February Mainly Reduced In Response To Ample Supplies

Saudi Aramco announced its February crude price formulas to customers on 5 January, reducing the prices for most grades but increasing the price for some light grades to the US and Asia. As usual the prices reflected the performance of competing crudes in the three regional spot markets in the past month, and also regional products pricing trends. December spot market activity...