ICP drops to $40.70 per barrel in July
Tuesday, August 2 2016 - 03:06 PM WIB
By Romel S. Gurky
The Indonesian basket oil price, known as Indonesian Crude Price (ICP), stood at the average of US$40.70 per barrel in July 2016, down $3.80 from $44.50 in June, as shown on Tuesday on the website of the Directorate General of Oil and Gas at the Energy and Mineral Resources Ministry.
The benchmark price of Minas/SLC crude averaged at $40.77 per barrel in July, a decrease from $45.64 in June, the website reported.
The decrease occurred amid the rise of crude prices in the international market.
Editing by Benget Besalicto ST