VOL. XLI

No. 28

13-July-1998

IRAN

Iran Lowers August Price Formula For Light, Heavy Crude Unchanged

Iran's NIOC has reduced the August price formula for its Iranian Light crude by 20cents/B to Oman/Dubai minus 40 cents/B. Iranian Heavy remains unchanged at Oman/Dubaiminus 90 cents/B. The following table shows the adjustment factors for Iranian Light andIranian Heavy in relation to the Oman/Dubai average during 1998 ($/B):

1998

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Iranian...