NO. 36

10 JUNE 1991

Oil Prices

OPEC Basket Price Rises to $17.78/B in May

The average spot price for the OPEC basket of seven crudes has increased forthe second consecutive month, rising to $17.78/B in May as against $17.39/B inApril and $16.77/B in March. The year to date average for the OPEC basket priceis $18.58/B, as compared with the minimum reference price of $21/B set duringthe Geneva conference last July. Details are shown in the table below:

Spot Quotations for the OPEC...