VOL. XXXVIII

NO. 37

12 JUNE 1995

Oil Prices

OPEC Basket Price Falls To $18.15/B For May

The average spot price for the OPEC basket of seven crudes averaged $18.15/Bin May, down 13 cents/B on the revised average of $18.28/B for April, accordingto figures released by the OPEC Secretariat. The May average is $2.85/B belowOPEC's $21/B minimum reference price, and $2.62/B above the 1994 average of$15.53/B.

The weekly basket averages for May were as follows: $18.58/B for the firstweek, $18.25/B for the...