Yemen Approves Crude Sales for November

The Supreme Committee on Crude Oil Marketing approved on Sunday during the meeting headed by Premier Ali Mujawar oil quantities for November supply at 6.6 million barrels. The meeting also approved the selling price for Masila crude oil quantities at a decrease of 68% a barrel to dated Brent and Marib oil will be sold for Brent price without discounts. The committee reviewed the report of the Ministry of Oil and Minerals on the most important indicators of oil market over 2 August and 3 September 2010. The report highlighted crude oil prices and price differences as well as forecasts for global oil demand for the next two years according to the expectations of the International Energy Agency. – Saba News