VOL. XLIII

No. 03

17-January-2000

OPEC

OPEC Basket Annual Average Reaches $17.47/B In 1999, Up $5.19/B Over 1998

The spot price for the 1999 OPEC basket of seven crudes rose to $17.47/B, compared to $12.28/B for 1998, an increase of $5.19/B or 42%. The monthly average increased by $1.02/B to $24.77/B for December, compared to $23.75/B in November. The fourth quarter average showed an increase of $3.41/B, reaching $23.42/B compared to $20.01/B during the third quarter.

The weekly basket averages...