VOL. XL No. 1912 May 1997


Iran Cuts June Price Formula For Light CrudeBy 10 Cents/B

Iran's NIOC has reduced the June price formula for its Iranian Light crude by 10cents/B, while leaving Iranian Heavy unchanged. Iranian Light will sell at OmanMPM minus 27 cents/B and Iranian Heavy will stay at Dubai minus 23cents/B. Iran's pricing formulas for Japanese and other Far Easterncustomers are set on a quarterly basis, subject to monthly reopening in responseto price changes in Saudi Arabia's...