VOL. XL

No. 25

23 June 1997

OPEC

Nigeria Cuts July Price Formulas By 1-19 Cents/B

Nigeria has reduced the July price formulas for all its crudes by 1-19cents/B. Pennington and Brass River were cut by 19 cents/B, Bonny Light and Qua Iboe weremarked down by 16 cents/B, Escravos was reduced by 15 cents/B and Forcados and BonnyMedium were lowered by 1 cent/B. The following table shows the adjustment factors forNigerian crude oils in relation to Dated Brent for 1997 ($/B):

1997

Jan

Feb

...