May ICP drops to $47.09 per barrel
Monday, June 5 2017 - 04:12 PM WIB
By Romel S. Gurky
The Indonesian basket oil price, known as Indonesian Crude Price (ICP), stood at an average of US$ 47.09 per barrel in May 2017, down by $2.47 from $49.56 in April 2017, 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 $48.08 per barrel in May 2017, a decrease from $50.51 in April 2017, the directorate said.
The decrease occurred in line with the lower crude prices in the international market.
Editing by Alexander Ginting