NO. 12/13

25-DEC-1989/1 JAN1990

Kuwait, Iran And Iraq Agree With Japanese On 1Q Price Formula Rollover

Three Gulf producers - Kuwait, Iran and Iraq - have reached agreement withtheir Japanese term contract customers on keeping their first quarter 1990 crudeoil price formulas unchanged from fourth quarter 1989 (for details see separatestories in this issue.) This was despite initial Japanese pressure to secure a10 to 15-cent reduction on the 1Q price formulas for the heavier crudes,...