VOL. XXXVII

NO. 44

1 AUGUST 1994

Oil Prices

Algeria LowersAugust Crude Formula By $0.08-0.09/B

Sonatrach, theAlgerian state-owned oil company, has lowered the August price formula for itsSaharan Blend by $0.08-0.09/B. Saharan Blend will sell for Dated Brent plus$0.06-0.07/B. The following table shows the adjustment factors for Algeria'sSaharan Blend in relation to Dated Brent during the last four months ($/B):

 Aug Jul Jun MaySaharan Blend (44ΓΈ) +0.06-0.07 +0.10-0.15 +0.20-0.25 +0.50-0.55