OPEC

China Cuts Crude Price by 60 Cents/B 

China's Sinochem has reduced the price of its Daqing crude deliveries to Japanese buyers by 60 cents/B for the second quarter of 1985. With retroactive effect to 1 April 1985, the price of Daqing crude is set at $26.75/B, as against $27.35/B in the first quarter. The new Daqing price relates to a government-to-government deal between Japan and China under which Japanese importers buy 160,000 b/d of Chinese crude oil, and this price is...