No. 03

20 January 1997


Iraq's February Prices Follow Saudi Adjustments: CutsFor US And Steady Elsewhere

In accordance with the Iraqi pricing arrangement agreedupon with the UN for monthly adjustments cent-for-cent in line with price movements forSaudi Arab Light crude, February price formulas for Iraqi crudes - Kirkuk (36º API, 2%sulfur) FOB the Turkish Mediterranean port of Ceyhan, and Basrah Light (34º API, 2%sulfur) FOB the Gulf terminal of Mina al-Bakr - have been cut by 25...