NO. 8

23 NOVEMBER 1992


NIOC Cuts December Price of Heavy Crude to Japanese Buyers

Iran's NIOC has agreed to cut its December price formula for Iranian Heavycrude deliveries to Japanese buyers by 10 cents/B. The December formula forIranian Heavy will be Dubai spot minus 85 cents/B (as against minus 75 cents/Bfor November), while that for Iranian Light remains unchanged at Oman spot plus5 cents/B.

The December price cut for Iranian Heavy is in line with Saudi Arabia's10-cent...