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The World

February 10, 1985

Iran has lowered its oil prices in line with cuts recently approved by the majority of members of the Organization of Petroleum Exporting Countries, the Middle East Economic Survey reported. Iran initially dissociated itself from the new OPEC price structure adopted last month. But the oil journal said Iran notified its customers Friday that it had cut the price of its light crude oil by $1.06 a barrel, down to $28.05, and Iranian heavy crude by 20 cents, down to $27.35 a barrel. OPEC's price structure is based on a benchmark rate of $28 a barrel for Saudi light crude oil.

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