No. 49

8 December 1997


OPEC Basket Falls 73 Cents/B To Average $18.81/B For November

The spot price for the OPEC basket of seven crudes averaged $18.81/B in November, adecline of 73 cents/B from the revised October average of $19.54/B, according to figuresreleased by the OPEC Secretariat. The November average is $1.48/B below the 1996 averageof $20.29/B.

The weekly basket averages for November were: first week, $18.98/B; second week,18.97/B; third week, 18.81/B; and fourth week,...