VOL. XXXI

NO. 5

9-NOVEMBER-1987

OIL MARKET SAGS UNDER IMPACT OF HOMELESS IRANIAN CRUDE SUPPLIES

The past week has witnessed a significant weakening of the crude oil market,mainly under the impact of distress-type sale offers for Iranian crude inNorthwest Europe. According to MEES soundings of market sources, at leastseven VLCC/ULCC tankers - three of them under charter to Coastal Corp. and fourchartered by Iran's NIOC itself via its tanker affiliate NITC - are on their wayto Rotterdam carrying...