Crude price free-fall. Yamanis mission: to prevent it
On January 30, 1985, OPEC announced price cuts effective February 1 for very-light and medium-light grades of crude, except for Nigeria's which, already having cut US $2/bbl on its own, increased its price for 37/sup 0/ API Bonny Light by US $0.65. The traditional OPEC marker crude, 34/sup 0/ API Arabian Light, is cut US $1.00 to $28.00/bbl. Arabian Heavy, about 27/sup 0/ API, stays at US $26.50. Prior to the cuts, the maximum spread between extra-light OPEC crude and Arabian Heavy was US $4.00/bbl. The spread between extra-light and the then-benchmark was US $1.50 at most, and between Arabian Heavy and the then-benchmark, US $2.50. Now, the official spreads are: Bonny Light-Arabian Heavy, US $2.15/bbl; Bonny Light-Arabian Light, US $0.65/bbl; Arabian Light-Arabian Heavy, US $1.50/bbl. These decisions have brought OPEC instant credibility, and could calm skeptics still warning of a free-fall in prices. This issue presents the refining netback data, US Gulf and West Coasts, late January 1985. The issue also contains the fuel price/tax series and the principal industrial fuel prices for December 1984 for countries of the Western Hemisphere. Asphalt export prices to the US for each month of 1984 are also listed.
- OSTI ID:
- 5797630
- Journal Information:
- Energy Detente; (United States), Journal Name: Energy Detente; (United States) Vol. 6:2; ISSN EDETD
- Country of Publication:
- United States
- Language:
- English
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ASPHALTS
BITUMENS
CARBONACEOUS MATERIALS
COAL
DATA
ENERGY SOURCES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
INDUSTRY
INFORMATION
INTERNATIONAL ORGANIZATIONS
MATERIALS
NATURAL GAS
NUMERICAL DATA
OIL-EXPORTING COUNTRIES
OPEC
ORGANIC COMPOUNDS
OTHER ORGANIC COMPOUNDS
PETROLEUM
PETROLEUM INDUSTRY
PETROLEUM PRODUCTS
PRICES
STATISTICAL DATA
TAR
TAXES