VOL. XXXVII

NO. 19

7 FEBRUARY 1994

Oil Prices

OPEC Basket Price Recovers Slightly To $13.67/B In January

The average spot price for the OPEC basket of seven crudes rose to $13.67/Bfor January, an increase of $0.80/B over the revised December 1993 average of$12.87/B, according to figures released by the OPEC Secretariat. With the exception of December, the January average remains lower than all other monthlyaverages during 1993, and it is $7.33/B below OPEC's $21/B minimum referenceprice.

The weekly...