VOL. XXXVIII

NO. 40

3 JULY 1995

Oil Prices

Nigeria Cuts July Price Formulas

Nigeria has reduced its July price formulas for crude sales by 6-38 cents/B.Pennington was reduced by 38 cents/B, while Brass River and Escravos were cut by22 cents/B and 21 cents/B respectively. Bonny Light and Qua Iboe were bothlowered by 19 cents/B, and Forcados was marked down by 11 cents/B. Bonny Mediumwas set at parity with Dated Brent, a drop of 6 cents/B from the June formula.The following table shows the...