VOL. XL

No. 14

7 April 1997

OPEC

OPEC Basket Price Falls By $1.80/B In March To Average $18.69/B

The spot price for the OPEC basket of seven crudes averaged$18.69 in March, a fall of $1.80/B from the revised February average of $20.49/B,according to figures released by the OPEC Secretariat. The March price is $1.60/B belowthe 1996 average of $20.29/B. The average for the first quarter of 1997 is $20.79/B, downby $2.27/B from the fourth quarter 1996 figure of $23.06/B.

The weekly basket...