NO. 15

9 JANUARY 1995

Oil Prices

Algeria Cuts January Price By 16-17 Cents/B

MEES learns that Algeria's state-owned oil company Sonatrach has reduced theJanuary price formula for its Saharan Blend crude to Dated Brent plus$0.32-0.35/B from $0.49-0.51/B for December, a reduction of 16-17 cents/B. Thefollowing table shows the adjustment factor for Algeria's Saharan Blend inrelation to Dated Brent for January and the last eight months of 1994 (cents/B):