12 MARCH 1990
OPEC Basket Price Averages $19.10/B in February
The average spot price of the OPEC basket of seven crudes was $19.10/B inFebruary, compared to $19.99/B in January, according to OPEC calculations madeavailable to MEES. The average price for the first two months of the year is$19.58/B compared with $17.31/B for 1989 as a whole. In the current OPECresolution on production and prices, $18/B is cited as the "minimumreference price" for the OPEC basket.