NO. 28

11 APRIL 1994

Oil Prices

OPEC Basket Price Falls To $13.34/B In March

The average spot price for the OPEC basket of seven crudes fell to $13.34/Bin March, a drop of $0.42/B from the February average of $13.76/B, according tofigures released by the OPEC Secretariat. The March average is $7.66/B belowOPEC's $21/B minimum reference price, and $2.99/B below the 1993 yearly averageof $16.33/B. The March figure is the lowest monthly average since December 1993,when the OPEC basket...