July ICP drops to $51.81 per barrel
Monday, August 10 2015 - 04:17 PM WIB
By Romel S. Gurky
The Indonesian basket oil price, known as Indonesian Crude Price (ICP), stood at US$51.81 per barrel in July this year, down $7.59 from $59.40 in June, as shown on Monday 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 $51.91 per barrel in July, a decrease from $59.54 in June, 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