NO. 38

25 JUNE 1990

Oil Prices

Iran and Japanese Buyers Agree on Price Reductions for July

Only Iran's NIOC and its Japanese crude oil customers have agreed on priceformulas for the month of July only so far, rather than for the whole of thethird quarter, as is the normal practice, MEES understands. The Iranian crudeprices agreed upon for July are very much in line with the recently announcedSaudi price reductions for July (down 25 cents for Light, 70 cents for Mediumand 60 cents for...