VOL. XLI

No. 47

23-November-1998

OPEC

Nigeria Reduces December Price Formulas

Nigeria has cut its oil price formulas for December by 2-7 cents/B.Pennington was reduced by 2 cents/B; Escravos, Forcados and Bonny Medium were marked downby 5 cents/B; Brass River was cut by 6 cents/B; and Bonny Light and Qua Iboe weredecreased by 7 cents/B. The following table shows the adjustment factors for Nigeriancrude oils in relation to Dated Brent for 1998 ($/B):

1998

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

...