No. 46

12 August 1996


OPEC Basket Price Rises 93 Cents/B In July To $19.29/B

The average spot price for the OPEC basket of seven crudes averaged $19.29/B in July, up 93 cents/B from the June average of $18.36/B, according to figures released by the OPEC Secretariat. The July average is $1.71/B below OPEC's minimum reference price of $21/B and $2.43/B above the 1995 basket average of $16.86/B. The July basket average is 3 cents/B higher than the second quarter 1996...