No. 49

8 December 1997


Iran Cuts December Price For Heavy Crude, Leaves Light Unchanged

Iran's NIOC has reduced the price formula for its Iranian Heavy crude to Dubai minus 13cents/B for December, but has left the formula for its Iranian Light crude unchanged atOman minus 42 cents/B. Iran's pricing formulas for Japanese and other Far Easterncustomers are set on a quarterly basis, subject to monthly reopening in response to pricechanges in Saudi Arabia's Arab Light and Medium...