VOL. XXXII

NO.34

29-MAY-1989

IRAN

Iran Will Retain Oman/Dubai Price Base for Far East Crude Sales

Despite widespread speculation that - as a result of dissatisfaction over lowrealizations from Dubai/Oman spot values as compared with Brent or WTI - Iranmight shift its price formula base for Far East crude deliveries to a Brentlinkage, NIOC has now informed its Japanese customers that it will retain theDubai/Oman base for third-quarter pricing. However, NIOC has not yet indicatedwhat differential on...