March ICP drops to $48.71 per barrel
Thursday, April 6 2017 - 12:38 AM WIB
By Romel S. Gurky
The Indonesian basket oil price, known as Indonesian Crude Price (ICP), stood at an average of US$ 48.71 per barrel in March 2017, down by $3.79 from $52.50 in February 2017, as shown on Wednesday 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 $49.62 per barrel in March 2017, a decrease from $53.36 in February 2017, the directorate said.
The decrease occurred in line with the lower crude prices in the international market.
Editing by Reiner Simanjuntak