No. 42

20 October 1997


Iraq's November Prices Follow Saudi Adjustments Other Than To The US

In accordance with Iraq's SOMO agreement with the UN overseers, and following theapproval of the Sanctions Committee last week, the Iraqi pricing formula for Novemberfollows cent-for-cent the November monthly price movements for Saudi Arab Light crude (MEES,13 October), with two exceptions regarding crude sales to the US. Accordingly, Kirkuk andBasrah Light crudes to Europe were increased by...