NO. 11

13 DECEMBER 1993

Oil Prices

OPEC Basket Price Falls To $14.47/B In November

The average spot price for the OPEC basket of seven crudes fell by $1.28/B inNovember to $14.47/B from $15.75/B in October, according to figures released bythe OPEC Secretariat. This is the lowest monthly average for the OPEC basketsince June 1990 when it fell to $14.02/B. The November 1993 price is $6.53/Bbelow OPEC's $21/B minimum reference price.

The weekly basket averages for November were: $15.01/B...