VOL. XL
No. 27
7 July 1997
IRAN
Iran Cuts August Price Formulas
Iran's NIOC has reduced its crude oil price formulas for August. Iranian Heavy is 10cents/B less for the month at Dubai minus 23 cents/B, while Iranian Light was cut by 40cents/B to Oman minus 67 cents/B. Iran's pricing formulas for Japanese and other FarEastern customers are set on a quarterly basis, subject to monthly reopening in responseto price changes in Saudi Arabia's Arab Light and Medium grades.
These price formulas are...
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