VOL. XLIII

No. 05

31 January 2000

OPEC

Nigeria Reduces February Price Formulas

Nigeria has reduced the price formulas for February for all its crudes by 14-30 cents/B. The following table shows the adjustment factors for Nigerian crude oils in relation to Dated Brent during the second half of 1999 and the first two months of 2000 ($/B):

1999

2000

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Bonny Light (37º)

+0.06

+0.08

+0.26

+0.23

+0.32

+0.15

+0.30

+0.06

Brass River (41º)

+0.12

+0.15

+0.33

+0.32

+0.42

+0.20

+0.36

+0.13

Qua Iboe (37º)

...