No. 37

15 September 1997


Iran Raises October Crude Prices

Iran's NIOC has increased its crude oil price formulas for Asia for October. IranianHeavy was increased by 10 cents/B to Dubai plus 7 cents/B, while Iranian Light was boostedby 15 cents/B to Oman minus 42 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...