Middle East Economic Survey

VOL. XLVII

No 22

31-May-2004

OIL PRICES

Crude Oil Formulas/Posted Prices ($/B)

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

2004

Jun

May

Apr

Mar

Feb

Jan

Asia (O/D)

Iranian Light (34)

+0.95

+0.80

+0.70

+0.60

+0.60

+0.95

Iranian Heavy (31)

-0.60

-0.45

-0.55

-0.65

-0.75

-0.30

Foroozan (31)

-0.60

-0.45

-0.55

-0.65

-0.75

-0.30

NWE/S Africa...