No. 37

10 June 1996


OPEC Basket Price Falls $1.34/B In May To $18.90/B

The average spot price for the OPEC basket of seven crudes averaged $18.90/B in May, a drop of $1.34/B from the April average of $20.24/B, according to figures released by the OPEC Secretariat. The May average is $2.10/B below OPEC's minimum reference price of $21/B and $2.04/B above the 1995 basket average of $16.86/B. The weekly basket averages for May are as follows: $18.92/B for the first week,...