VOL. XXXIV

NO. 45

12 AUGUST 1991

Oil Prices

OPEC Basket Price Increases to $18.20/B in July

The average spot price for the OPEC basket of seven crudes rose to $18.20/Bin July as against $17.21/B in June. The year to date average price works out at$18.34/B, as compared with the minimum reference price of $21/B set during theGeneva conference in July 1990. Details are shown in the table below:

Spot Quotations for the OPEC Reference Basket ($/B)

 Saharan Bonny Arab T.J. Blend Minas Light Light Dubai...