VOL. XXXVII

NO. 43

25-JULY-1994

Iran

Iran Gains (And Loses) From Saudi Arabia's New Light Crude Emphasis

Although there is little doubt Saudi Arabia's decision to emphasizehigher-value light crudes at the expense of heavier varieties was motivated byfinancial self-interest rather than by any neighborly gesture of goodwill, ithas generally been assumed that other producers in the region have themselvesprofited handsomely from the output policy through higher prices for their ownheavy grade...