NO. 42

19 JULY 1993


Iran Cuts Far East Price Formulas By 10 Cents/B For August

Following in the footsteps of Saudi Aramco, Iran's NIOC has reduced its priceformulas for August deliveries of both Iranian Light and Heavy crudes toJapanese term contract customers by 10 cents/B. This is in line with last week'snotification by Saudi Aramco (MEES, 12 July) of 10-cent/B cuts in August pricesfor Far East deliveries of Arabian Light and Medium crudes (comparable toIranian Light and...