VOL. XXXVII

NO. 19

7 FEBRUARY 1994

Oil Prices

Saudi Arabia Hikes March Formula Prices

Saudi Arabia raised price formulas for March term deliveries virtuallyacross-the-board last week. This time around, however, it was Asian and Europeanbuyers rather than their US counterparts which had to bear most of the brunt,although the latter also saw price hikes of some 25-30 cents/B. Once again theSaudi price moves seemed designed to encourage sales of high-value lighterstreams at the expense of heavier...