NO. 31

1 MAY 1995

Oil Prices

Nigeria Raises May Price Formulas

Nigeria has increased its May price formulas for crude sales by 13-23 cents/Bover Dated Brent. Prices for Bonny Light, Brass River, Qua Iboe and Focados wereraised by 13 cents/B, while those for Escravos and Bonny Medium were put up by16 cents/B and 18 cents/B respectively. The price for Pennington was raised by23 cents/B over Dated Brent. The following table shows the adjustment factorsfor Nigerian crude oils in relation...