NO. 4

26 OCTOBER 1992


NIOC Cuts November Price of Light Crude to Japanese Buyers

Iran's NIOC has agreed to cut its November price formula for Iranian Lightcrude deliveries to Japanese buyers by 15 cents/B. The November formula forIranian Light will be Oman spot plus 5 cents/B (as against plus 20 cents/B forOctober), while that for Iranian Heavy remains unchanged at Dubai spot minus 75cents/B.

The November price cut for Iranian Light is in line with Saudi Arabia's15-cent reduction in...