NO. 45

8 AUGUST 1994

Oil Prices

OPEC Basket Price Gains $0.91 To Reach $17.41/B In July

The average spot price for the OPEC basket of seven crudes rose by $0.91/B inJuly to $17.41/B from the revised average of $16.50/B in June, according tofigures released by the OPEC Secretariat. This is the highest basket averagesince the May 1993 average of $17.89/B. The July average is $3.59/B below OPEC's$21/B minimum reference price, and is $1.08/B above the 1993 yearly average of$16.33/B. The...