No. 55

14 October 1996


Iran Raises Price Of Heavy Crude For November

Iran's NIOC has increased the November price formula for its Iranian Heavy crude but left the price formula for Iranian Light unchanged from its fourth quarter posting. Iranian Heavy will sell at Dubai minus 3 cents/B, an increase of 10 cents/B. Iranian Light will remain at Oman minus 12 cents/B. Iran's pricing formulas for Japanese and other Far Eastern customers are set on a quarterly basis, subject to...