VOL. XXXV

NO. 36

8 JUNE 1992

Oil Prices

OPEC Basket Price Averages $18.68/B in May

The average spot price for the OPEC basket of seven crudes rose to $18.68/Bin May, up 99 cents/B over the previous month. The year-to-date average is$17.31/B. The May price continued an upward trend which began in mid-March, andwhich received a boost from the roll-over agreement at the OPEC ministerialmeeting last month, with the basket price averaging $18.48/B in the first twoweeks of May, declining to $18.36/B...