Saudi ups prices, cuts output
- Saudi Arabia: Tuesday, June 06 - 2006 at 08:31
Saudi has raised the official selling price for its crude oil to Europe in July, but cut prices to US buyers, according to Reuters. It increased prices to Europe by between 45 and 75 cents a barrel, while cutting US prices by 30 to 35 cents. Meanwhile, the world's top exporter cut production to 9.1m bpd in April, due to a drop in refinery demand, The Wall Street Journal quoted Oil Minister Ali Al Naimi as saying.
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