Table 13. World Crude Oil Prices1 (Dollars per Barrel) Country Type of Crude/ In Effect: API Gravity2 22-Oct 15-Oct 2-Jan 3-Jan 4-Jan 5-Jan 7-Jan 6-Jan 2004 2004 2004 2003 2002 2001 2000 1978 -------------------------------------------------------------------------------- OPEC Saudi Arabia Arabian Light 34° 44.55 44.37 27.08 27.39 18.90 20.90 23.45 12.70 Arabian Medium 31° 42.05 41.87 26.13 26.44 18.55 20.30 22.85 12.32 Arabian Heavy 27° 40.10 39.92 25.38 25.69 18.15 19.40 22.10 12.02 Abu Dhabi Murban 39° 41.84 42.02 29.87 28.37 19.87 22.60 23.94 13.26 Dubai Fateh 32° 37.54 37.72 27.93 27.28 18.63 21.25 22.20 12.64 Qatar Dukhan 40° 43.18 43.10 28.59 28.03 19.40 22.05 23.61 13.19 Iran Iranian Light 34° 43.50 43.84 28.67 27.85 18.90 21.15 23.55 13.45 Iranian Heavy 30° 40.95 41.47 27.52 27.08 18.56 20.40 23.05 12.49 Iraq3 Kirkuk 36° 40.46 40.58 26.67 27.93 19.08 23.67 21.75 13.17 Kuwait Kuwait 31° 36.79 36.79 27.89 27.30 18.25 20.20 22.90 12.22 Neutral Zone Khafji 28° 44.37 44.37 27.08 27.39 18.90 20.90 23.45 12.03 Algeria Saharan Blend 44° 50.76 51.30 29.92 31.69 19.67 24.05 24.28 14.10 Nigeria Bonny Light 37° 50.14 50.35 29.97 31.16 19.88 23.35 23.85 15.12 Forcados 31° 50.12 50.32 29.70 31.13 19.81 23.35 23.85 13.70 Libya Es Sider 37° 45.79 45.48 29.47 30.40 19.63 23.75 23.25 13.68 Indonesia Minas 34° 52.31 51.27 32.10 35.03 18.89 23.05 23.25 13.55 Venezuela Tia Juana Light 31° 48.35 47.75 30.10 30.25 17.78 23.57 23.42 13.54 Bachaquero 24° NA NA NA NA NA NA NA 12.39 Bachaquero 17° NA NA NA NA NA NA NA 11.38 Gabon6 Mandji 30° NA NA NA NA NA NA NA 12.59 Total OPEC4 44.08 44.03 28.22 28.47 18.94 21.87 23.19 13.03 Non-OPEC United Kingdom Brent Blend 38° 49.91 50.44 29.73 31.36 21.20 24.52 23.26 NA Norway Ekofisk Blend 42° 49.89 50.66 29.61 31.06 19.62 23.35 23.95 14.20 Canada Canadian Par 40° 53.25 51.79 30.49 31.78 19.80 26.98 23.89 NA Lloyd Blend 22° 37.74 37.24 22.87 24.51 11.55 18.22 19.71 NA Mexico Isthmus 33° 48.24 47.64 29.99 30.14 17.72 23.46 23.32 13.10 Maya 22° 40.02 39.38 24.37 26.29 14.30 17.21 19.84 NA Colombia Cano Limon 30° 43.05 43.65 29.49 29.07 17.71 24.11 23.98 NA Ecuador Oriente 30° 36.40 37.10 26.49 27.32 15.15 20.78 28.20 12.35 Angola Cabinda 32° 47.30 47.53 29.31 30.60 18.43 23.20 23.15 NA Cameroon Kole 34° 47.39 48.20 29.12 30.92 18.05 23.20 23.15 NA Egypt5 Suez Blend 33° 39.84 39.85 25.67 28.63 17.78 20.15 21.80 12.81 Gabon6 Mandji 30° NA NA NA NA NA NA 22.55 NA Oman Oman Blend 34° 40.03 39.86 28.45 27.71 18.76 21.05 23.20 13.06 Australia Gippsland 42° 52.82 52.61 31.64 32.22 20.14 25.25 23.85 NA Malaysia Tapis Blend 44° 53.35 53.55 31.90 32.54 20.31 28.15 25.43 14.30 Brunei7 Seria Light 37° NA NA NA NA NA NA NA 14.15 Russia8 Urals 32° 41.90 42.56 27.42 30.31 20.85 23.52 23.36 13.20 China Daqing 33° 52.00 49.54 31.85 34.38 18.81 22.85 23.20 13.73 Total Non-OPEC4 44.41 44.51 27.84 29.55 18.45 22.54 23.13 13.44 Total World4 44.27 44.31 28.00 29.03 18.68 22.10 23.17 13.08 United States9 44.44 44.22 27.63 28.52 17.06 21.77 22.68 13.38 ------------------------------------------------------------------------------------------- 1 Estimated contract prices based on government-selling prices, netback values, or spotmarket quotations. All prices are f.o.b. at the foreign port of lading except where noted; 30 day payment plan except where noted. See Appendix A for procedure used for calculation of world oil prices. 2 An arbitrary scale expressing the gravity or density of liquid petroleum products. 3 Netback price at U.S. Gulf. 4 Average prices (f.o.b.) weighted by estimated export volume. 5 On 60 days credit. 6 Effective July 19, 1996, the Total Non-OPEC price reflects the decision by Gabon to leave the organization. Total OPEC prices from that date forward have been adjusted accordingly. 7 Brunei contract prices no longer available for use in weekly calculations. 8 Price (f.o.b.) to Mediterranean destinations; also called Urals. 9 Average prices (f.o.b.) weighted by estimated import volume. Note: The Canadian crude prices have been changed to U.S. dollars. NA=Not Applicable. R=Revised data. Sources: (the complete url below appears on two lines) http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/weekly_petroleum_ status_report/current/pdf/sources.pdf