OPEC AND OIL PRICES

Iran Confirms New Prices 

Iran has confirmed that it has set new prices for its crudes which are in line with the price structure adopted last month in Geneva by the majority of OPEC members. A statement by the official IRNA news agency on 13 February said the decision - which resulted in a $1.06/B reduction in the price of Iranian Light to $28.05/B and a 20 cents/B cut in Iranian Heavy to $27.35/B (MEES, 11 February) had been taken to safeguard "the integrity...