VOL. XXXIX

No. 40

1 July 1996

SYRIA

Syria Reduces July Crude Prices By 50-52 Cents/B

The differentials for Syrian crude against Dated Brent for July and the previous nine months are shown in the table below ($/B):

_____________________1996__________________ ______1995_______

Jul Jun May Apr Mar Feb Jan Dec Nov Oct

Syrian Light -0.80 -0.30 -0.48 +0.02 P* +0.15 -0.04 -0.30 -0.43 -0.31

Syrian Heavy -3.07 -2.55 -2.80 -2.60 -2.55 -2.60 -2.80 -3.00 -3.05 -2.90

_________

P* = Parity