Iran Cuts January Formula Prices
Irans NIOC has reduced the January price formulas for its IranianLight and Iranian Heavy crudes by 25 cents/B and 15 cents/B respectively. Iranian Lighthas been set at Oman/Dubai minus 25 cents/B, while Iranian Heavy was put at Oman/Dubaiminus 50 cents/B. The following table shows the adjustment factors for Iranian Light andIranian Heavy in relation to the Oman/Dubai average during the last six months of 1998 andJanuary 1999...
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