VOL. XXX

NO. 13

5 JANUARY 1987

OPEC SUPPLIERS NOTIFY CUSTOMERS OF RETURN TO FIXED PRICES ON 1 FEBRUARY

The main OPEC crude suppliers have been quick to follow up the Organization's20 December Geneva agreement on production and prices with formal notificationsto their customers that sales contracts based on netbacks and market relatedpricing formulas are to be phased out in January and replaced by OPEC set fixedofficial prices with effect from 1 February 1987. So far, Saudi Arabia, Iran,Iraq,...