No. 24



Iranian Reduces Asian Price Formulas For 2Q 1996

Iran's NIOC has reduced the price formulas for the second quarter of 1996 for its Iranian Heavy and Iranian Light crudes. Iranian Heavy was cut by 15 cents/B to Dubai minus 8 cents/B from its first quarter price of Dubai plus 7 cents/B, while Iranian Light was reduced by 5 cents/B to Oman minus 12 cents/B from the first quarter formula price of Oman minus 7 cents/B. Iran's pricing formulas for Japanese...