ICP drops to $43.25 per barrel in November
Saturday, December 3 2016 - 02:25 AM WIB
By Romel S. Gurky
The Indonesian basket oil price, known as Indonesian Crude Price (ICP), stood at an average of US$ 43.25 per barrel in November 2016, down by $3.39 from $46.64 in October 2016, as shown on Friday 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 $44.53 per barrel in November, a decrease from $47.55 in October, the website reported.
The decline occurred in line with the lower crude prices in the international market.
Editing by Reiner Simanjuntak