Middle East Economic Survey

VOL. XLVII

No 27

05-July-2004

Crude Oil Formulas/Posted Prices ($/B)

Venezuela

2004

2004

($/B)

Jun

May

Apr

Mar

Feb

Jan

Avg

Basket Price

31.84

33.56

31.72

29.79

27.65

27.88

30.40

Note: All prices are subject to revision.

The above are average prices announced by Venezuelas Ministry of Energy and Mines for oil exports.

The prices are based on a basket of Venezuelan crude oil and refined products sold on world markets.