VOL. XL

No. 32

11 August 1997

IRAN

Iran Raises September Prices To Asia

Iran's NIOC has raised its crude price formulas by 10-20 cents/B for September. Theformula for Iranian Heavy is up 20 cents at Dubai minus 3 cents, and that for IranianLight up 10 cents at Oman minus 57 cents/B. Iran's pricing formulas for Japanese and otherFar Eastern customers are set on a quarterly basis, subject to monthly reopening inresponse to price changes for Saudi Arabia's Arab Light and Medium grades.

These price...