Yemen Raises August Crude Price Formulas
Yemen痴 oil marketing authorities have increased the Augustprice formulas for Marib Light and Masila crudes. Marib was marked up by 5cents/B and Masila was raised by 14 cents/B. Arcadia (Mitsui痴 European arm)will lift all of Marib Light during August, while the main lifters of Masilawill be Sinochem, Vitol and Arcadia. Yemeni crude oil production averages370,000 b/d broken down as follows: Masila, 200,000 b/d; Marib,...