No. 06

9 February 1998


Iran Cuts March Price Formulas By 15-20 Cents/B

Iran's NIOC has reduced it price formulas for its Japanese and other Far Easterncustomers by 15-20 cents/B for March. Iranian Light was cut by 15 cents/B to Oman/Dubaiaverage minus 35 cents/B, while Iranian Heavy was marked down by 20 cents/B to Oman/Dubaiaverage minus 95 cents/B. The following table shows the adjustment factors for IranianLight and Iranian Heavy in relation to the Oman/Dubai average for the...