26 FEBRUARY 1990
OPEC Basket Price Hits $19.99/B in January
According to OPEC calculations made available to MEES, the average spot priceof the OPEC basket of seven crudes rose to $19.99/B in January 1990. Thiscompares with $18.84/B in December 1989 and $17.31/B for the year 1989 a whole.In the current OPEC resolution on production and prices, $18/B is cited as the"minimum reference price" for the OPEC basket.
The seven crudes comprising the OPEC basket are: Saudi...