East Germany May Buy Iranian Crude

East Germany and Iran have reached agreement in principle to exchange Iranian oil and other products for East German industrial goods, according to the official Iranian news agency IRNA. The agreement was reached during a visit to Tehran by the East German Chemical Industry Minister, Mr. Gunter Wyschofsky, earlier this month. Mr. Wyschofsky is quoted as saying that his country could buy 500,000 b/d to 1mn b/d of Iranian crude under the deal.