VOL. XLVII

No 11

15-March-2004

OIL PRICES

Crude Oil Formulas/Posted Prices ($/B)

Algeria (Dated Brent + / - Adjustment Factor; $/B)

2004

2003

Saharan

Mar

Feb

Jan

Dec

Nov

Oct

Sep

Aug

Jul

Jun

May

Apr

Mar

Blend (44)

+0.20

+0.40

+0.21

+0.22

+0.40

+0.05

0.00

-0.35

0.00

0.00

+0.30

+0.55

+0.35

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

2004

2003

Apr

Mar

Feb

Jan

Dec

Nov

Oct

Sep

Aug

Jul

Jun

May

Apr

Asia...