NO. 39


Oil Prices

Syria Lowers 3Q Price of Light Crude by 5 Cents/B

The third quarter price of Syrian Light crude (37 API) has been reduced by5 cents a barrel to Es Sider plus 5 cents/B, compared to Es Sider plus 10cents/B in the second quarter (MEES, 1 April). Meanwhile Syria's heavy Suwaidiyah crude (24 API) continues to be mainly sold on a spot basis atBrent-related prices. Syrian efforts to shift to term sales on the basis of aformula linked to Soviet Urals, Iranian...