VOL. XXXI

NO. 7

23-NOVEMBER-1987

EGYPT

Oil Prices Reduced by $1.00/B for Second Half of November

Egypt has reduced the export prices of its various grades of crude oil by$1.00 a barrel for the second half of November. The reasons given for thissubstantial reduction in prices are the slump in the world oil market resultingfrom over-quota production by some OPEC countries, the large quantities ofIranian crude being offered for sale in Northwestern Europe and the large stocksavailable on the...