VOL. XXXIV

NO. 19

11 FEBRUARY 1991

Oil Prices

OPEC Basket Price Declines to $22.38/B in January

The average spot price for the OPEC basket of seven crudes decreased to$22.38/B in January, compared to $26.11/B in the previous month. The Januaryprice level is the lowest registered since the Gulf crisis broke out last Augustduring which period the basket price ranged between $24.89 and $34.58/B. Theaverage price of the OPEC basket for 1990 was $22.25/B (MEES, 14 January). Fulldetails are shown in the...