No. 39

24 June 1996


Iran Cuts Price Of Heavy Crude For July

Iran's NIOC has reduced the price formula for its Iranian Heavy crude for July, but left the formula for its Iranian Light unchanged. Iranian Heavy for July will sell at Dubai minus 33 cents/B, down 25 cents/B from the June price of Dubai minus 8 cents/B. Iranian Light remains unchanged at Oman minus 12 cents/B. Iran's pricing formulas for Japanese and other Far Eastern customers are set on a quarterly basis,...