NO. 44

31 JULY 1995

Oil Prices

Iran Reduces August Price Formula For Heavy Crude To Asian Customers

Iran's NIOC has reduced the price of Iranian Heavy for August liftings to theFar East by 10 cents/B, leaving Iranian Light unchanged. For August, IranianHeavy will be priced at Dubai spot plus 19 cents/B, while Iranian Light willstay at Oman spot minus 12 cents/B. Iran's pricing formulas for Japanese andother Far East customers are set on a quarterly basis, subject to monthlyreopening...