ICP price down to $77.02 per barrel in May
Thursday, June 3 2010 - 03:34 AM WIB
The Indonesian basket oil price, known as Indonesian Crude Price (ICP, stands at US$77.02 per barrel in May, down $8.52 from $85.54 in April, Directorate General of Oil and Gas? website said on Wednesday.
The price of benchmark crude Minas/SLC averaged $80.67 per barrel in May, down from $89.16 in April, the website said.
The directorate general said the price decrease came in line with the weak international price of crudes as a result of the weakening of the euro and global equity market following the economic crisis in Europe. (denny)