VOL. XXXIII

NO. 50

17 SEPTEMBER 1990

OPEC

OPEC Basket Price Rises to $24.89/B in August

The average spot price for August for the OPEC basket of seven crudes rose to$24.89/B, as compared with $15.68/B in July. For the first eight months of 1990,the OPEC basket price averaged $17.99/B - equivalent to the previous target of$18/B minimum reference price but short of the new minimum reference price of$21/B set during the Geneva OPEC Conference in July. Full details are shown inthe table overleaf:

Spot...