VOL. XLVII

No 03

19-January-2004

OPEC

OIL PRICES

Crude Oil Formulas/Posted Prices ($/B)

Iraq(+/- Adjustment Factor; $/B)

2004

2003

Feb

Jan

Dec

Nov

Oct

Sep

Aug

US

Basrah Light (WTI 2nd Month)

-4.95

-4.90

-5.10

-5.10

-5.40

-5.20

-4.95

Europe

Basrah Light (Dated Brent)

-4.25

-3.05

-3.25

-2.90

-3.10

-2.70

-2.90

Far East

Basrah Light (Oman/Dubai)

...