NO. 10


Oil Prices

Yemen Increases 1Q92 Price Formula by 25 Cents/B; Crude Contracts for 1992

MEES learns that Yemen's Oil Marketing Department has increased the 1992first quarter price formula for term customers for Marib Light (40.4 API,less than 0.08% sulfur) crude by 25 cents/B to Dated Brent plus 35 cents/B, asagainst Dated Brent plus 10 cents/B in the fourth quarter of 1991. This compareswith Dated Brent plus 7 cents/B in the third quarter, Dated Brent plus 5 cents/B...