Price of RI crude oil drops to US$24.12 per barrel

The average price of the Indonesian benchmark crude oil of Minas in the international market dropped by US$3.07 per barrel in April to US$24.12 from the price level in March, Kompas daily reported on Saturday.

The current crude price is still above the government's reference level of U$420 per dollar level but members of the House of Representatives said that they were afraid the target could not be achieved given the downfall trend in the oil price in the international market.

Indonesia's foreign exchange reserves from crude oil exports rose by 97 percent in the January-March period as compared to the same period of last fiscal year while the average crude price rose to US$30 per barrel from US$10 per barrel. (*)