No. 34

20 May 1996


Nigeria Cuts Price Formulas For June

Nigeria has cut its June price formulas by 30-36 cents/B. Forcados was reduced by 30 cents/B, Bonny Medium by 31 cents/B, Brass River by 32 cents/B, Bonny Light and Qua Iboe by 33 cents/B, Pennington by 35 cents/B and Escravos by 36 cents/B. The price of Nigerian crudes for June will range between Dated Brent plus 48 cents/B for Pennington to Dated Brent plus 7 cents/B for Bonny Medium. The following table shows...