May ICP up to $44.68 per barrel
Thursday, June 2 2016 - 09:40 AM WIB
By Romel S. Gurky
The Indonesian basket oil price, known as Indonesian Crude Price (ICP), stood at US$44.68 per barrel in May 2016, up $7.48 from $37.20 in April, as shown on Thursday 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 $49.46 per barrel in May, an increase from $37.25 in April, the website reported.
The increase occurred in line with the rise of crude prices in the international market.
Editing by Johannes Simbolon