VOL. XXXII
NO. 12/13
26-DEC-1988/2 JAN1989
OIL PRICE DEVELOPMENTS
Iraq Encounters Japanese Resistance to 1Q 1989 Price Ideas
Iraq's SOMO and its Japanese customers have so far failed to reach agreementon price terms for first-quarter 1989 contract liftings. Iraq is apparentlyinsisting that the lQ 1989 price formula for deliveries of Iraqi Basrah Lightcrude f.o.b. Yanbu' should be restored to Oman/Dubai spot average minus 22cents/B - this being the level applicable before the 4Q 1988 price...
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