VOL. XL

No. 43

27 October 1997

OPEC

Nigeria Reduces November Price Formulas

Nigeria has reduced its November price formulas by 20-37 cents/B. Bonny Light, Qua Iboeand Pennington were cut by 20 cents/B, Escravos and Brass River were marked down by 25cents/B and 26 cents/B respectively, Bonny Medium fell by 30 cents/B, and Forcadoesdropped by 37 cents/B. The following table shows the adjustment factors for Nigerian crudeoils in relation to Dated Brent for 1997 ($/B):

1997

Jan

Feb

Mar...