No. 06

9 February 1998


OPEC Basket Falls $2.45/B To Average $14.44/B For January

The spot price for the OPEC basket of seven crudes averaged $14.44/B in January, a dropof $2.40/B from the revised December average of $16.84, according to figures released bythe OPEC Secretariat. The January figure is $4.24/B below the 1997 yearly average of$18.68/B. The weekly basket averages for January were: first week, $14.80/B; second week,14.25/B; third week, 14.17/B; and fourth week, $14.56/B....