ICP April reached $50.62 per barrel

The average Indonesia Crude Price (ICP) for April 2009 reached US$50.62 a barrel, higher compared to $46.95 in the previous month.

Minas/SLC price for April was $53.45 a barrel, up by $4.94 from $48.51 in March, Directorate General of Oil and Gas said in its website on Friday.

The increase occcured in line with the rise of crude price on the international market that was caused by some factors, including the market`s optimism over the prospect of the world`s economy following the G20 agreement to allocate $1.1 trillion funds to the IMF and other world financial institutions to help countries cope with the recession.

The global stock market has also recovered, giving a hope that that the financial market may stabilize in the near future. Furthermore, OPEC members have generally complied with the group's production cut decision. (*)