VOL. XXXVII

NO. 36

6 JUNE 1994

Oil Prices

Libya And Nigeria Lower June Prices In Face Of Poor Demand

Faced with sluggish demand in traditional European markets, North and WestAfrican sweet crude producers have lowered prices for June almost across theboard. The only exceptions were Nigeria's heavier Forcados and Bonny Mediumgrades, both of which saw relatively modest price rises. Unexpectedly firm fueloil demand in Europe and a correspondingly weak gasoline market has tended todampen refiners'...