VOL. XLII

No. 33

16-August-1999

SAUDI ARABIA

Aramco Maintains Pressure On Exports By Extending Supply Cuts IntoSeptember

Saudi Aramco appears to have rolled over most of its export cutbacks forSeptember, cutting September term supplies by an estimated 10-12% in Asia,30-35% in Europe and an average 22% for buyers in the United States whichpurchase crude on a delivered basis. While the cutbacks versus base contractlevels were on a par with those imposed in August, some major oil companieswhich...