January ICP drops to $27.49 per barrel
Tuesday, February 2 2016 - 02:12 PM WIB
By Romel S. Gurky
The Indonesian basket oil price, known as Indonesian Crude Price (ICP), stood at US$27.49 per barrel in January 2016, down $7.98 from $35.47 in December 2015, 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 $26.63 per barrel in January, a decrease from $34.61 in December last year, the website reported.
The decrease in the ICP occurred in line with the decline of crude prices in the international market.
Editing by Johannes Simbolon