Iran Reduces Formula Prices For December
Irans NIOC has reduced the December price formulas for itsIranian Light and Iranian Heavy crudes by 10 cents/B and 15 cents/B respectively. IranianLight has been set at parity with Oman/Dubai, while Iranian Heavy was put at Oman/Duabiminus 35 cents/B. The following table shows the monthly adjustment factors for IranianLight and Iranian Heavy in relation to the Oman/Dubai average during 1998 ($/B):
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