Egypt cuts its oil price to below the OPEC level

By Compiled From Wire Service Dispatches With Analysis From Monitor Correspondents Around The World; Edited By Linda Feldmann

March 18, 1983

Cairo

Egypt lowered its oil prices, bringing the key Suez blend down by $2, to $27 a barrel. Egypt, not a member of OPEC, normally keeps its prices below OPEC's benchmark level, which was recently cut to $29 a barrel.