NO. 23


Oil Prices

No Change in Yemen Price Formula for 2Q

Yemen's oil marketing authorities have maintained the second-quarter priceformula for Marib Light crude unchanged from the first quarter, at Dated Brentplus 35 cents/B. The Yemeni prices for all destinations are FOB Ras 'Isa anddetermined at around five days from B/L, with payments 30 days from B/L.

Current Yemeni oil production is around 190,000 b/d, with the governmentshare at approximately 90,000 b/d. The oil...