VOL. XLII

No. 11

15-March-1999

OPEC

OPEC Basket Average Falls 72 Cents/B To $10.02/B ForFebruary

The spot price for the OPEC basket of seven crudes fell by72 cents/B in February to average $10.02/B, compared to $10.74/B for January.The February average is $2.26/B below the 1998 average of $12.28/B. The weeklybasket averages for February were: first week, $10.51/B; second week, $9.66/B;third week, $9.73/B; and fourth week, $10.17/B. Monthly and quarterly detailsare shown in the table below ($/B):

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