VOL. XLI

No. 16

20-April-1998

IRAQ

Iraqi Price Formulas For May

Iraq's State Oil Marketing Organization (SOMO) announced last week the price formulasfor Iraqi crudes in May, which follow cent-for-cent the May price movements for Arab Lightannounced by Saudi Aramco a fortnight ago, with a decrease of 15 cents/B to the US, nochange for European destinations and an increase of 15 cents for crude headed to the FarEast. The following table shows FOB price formulas for Iraqi crudes for January-May...