No. 28

8 April 1996


OPEC Basket Price Rises $1.49/B In March To $19.39/B

The average spot price for the OPEC basket of seven crudes rose to $19.39/B in March, an increase of $1.49/B from the February average of $17.90/B, according to figures released by the OPEC Secretariat. The March average is $1.61/B below OPEC's minimum reference price of $21/B, but $2.53/B above the 1995 basket average of $16.86/B. The OPEC Secretariat reported a first quarter 1996 average of...