VOL. XXXIV

NO. 27

8 APRIL 1991

Oil Prices

OPEC Basket Price Drops to $16.77/B in March

The average spot price for the OPEC basket of seven crudes continued itsdownward trend in March with an average of $16.77/B in March, as against$17.55/B in February and $22.38/B in January. The average price for the OPECbasket during the first quarter of this year is $19.25/B, as compared with theminimum reference price of $21/B set during the Geneva Conference last July.Details are shown in the table below:

Spot...