VOL. XLIII

No. 20

15-May-2000

Crude Oil Formulas/Posted Prices

OPEC 20-Day Basket Average

Price Avg

Date

($/B)

Daily

11 May

27.35

20-Day Avg*

13 Apr- 11 May

24.11

Weekly Avg

1 May 5 May

24.30

Monthly Avg

Apr

22.90

Quarterly Avg

1Q

26.11

Year to Date Avg

25.30

Source: OPEC

The 20-day average is calculated from prices for the last 20 business days.

Iran (Oman/Dubai or Dated Brent +/- Adjustment Factor; $/B)

1999

2000

Asia* (O/D)

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Iranian Light (34º)

+0.10

+0.55

+0.35

+0.85

+0.60

+0.60

+0.60

+0.35

+0.45

...