No. 55

14 October 1996


September 1996 Expected To Be Benchmark Month For Iraqi Crude Price Formulas

MEES understands that, if and when the UN plan for limited Iraqi oil sales for humanitarian purposes under resolution 986 gets back on track, September 1996 is expected to be retained as the benchmark month for determining monthly adjustments to Iraqi crude prices, in line with Arab Light crude price movements, under the formulas agreed upon between Iraqi and UN teams before...