VOL. XLI

No. 28

13-July-1998

LIBYA

Libya Cuts July Price Formulas

Libya has cut its July price formulas by 50 cents/B for most of its light crudes, theexception being Bu Attifel, which was reduced by 30 cents/B. Heavy offshore Bouri crude(26ยบ API) remained unchanged at Iranian Heavy ex-Sidi Kerir minus 20 cents/B. MEESlearns that the steep price reductions are due to complaints made by companies aboutLibya's June price level in relation to the rest of the oil market. The following tableshows...