VOL. XXXVI

NO. 41

12 JULY 1993

OIL PRICES

OPEC Basket Price Averaged $17.08/B In June

The average spot price for the OPEC basket of seven crudes for the month ofJune was $17.08/B, according to figures recently released by the OPECSecretariat. This is a reduction of $0.81/B compared with the revised basketaverage for May of $17.89/B. The June basket price is $3.92/B below OPEC's $21/Bminimum reference price.

Weekly averages declined throughout the month, ending $1.20/B lower than theybegan. The June...