2015-10-21: WRTG: NYMEX Light Sweet Crude: $45.89 (-1.37)
2015-10-21: WRTG: ICE Brent: $48.61 (-1.85)
2015-10-21: WRTG: RBOB Gasoline NY Harbor: $1.2514 (-0.0766)
2015-10-21: WRTG: Heating Oil NY Harbor: $1.4491 (-0.0475)
2015-10-21: WRTG: NYMEX Natural Gas: $2.442 (0.012)
2016-02-11: OPEC: Daily Basket Price: $25.21
Jum'at, 27 April 2018



ICP in March 2016 Increased to US$ 34, 19 per Barrel

JAKARTA – The average Indonesia’s crude price in March 2016, based on the calculation of ICP Formula, reached US$ 34, 19 per barrel or increased for US$ 5, 27 per barrel comparing to the previous month on February 2016 which reached US$ 28, 92 per barrel. Meanwhile, Minas/SLC price reached US$ 33, 82 per barrel or increased for US$ 5, 16 per barrel from US$ 28, 66 per barrel of the previous month.

Indonesia’s Crude Price Team stated that the increase is along with the progress of main crude price in international market due to several factors such as follows:
   1.Crude oil production in February 2016 decrease as follow;
Based on OPEC publication in March 2016, the world crude supply decreased for 0, 21 million barrel per day to 95, 73 million barrel per day.
   b.Based on International Energy Agency (IEA) report in March 2016, the crude oil supply from OPEC countries decreased for 90 million barrel per day to 32, 61 million barrel per day caused by the production decrease by Iraq, Nigeria, and United Arab Emirates, and also the production addition by Saudi Arabia.
   2.The Minister of Petroleum Qatar stated that oil producers from OPEC and non-OPEC countries will have a meeting in Doha by April 17th, 2016 to discuss the planning of production level detention. There are 15 OPEC and Non-OPEC countries dominate 73% of the world crude oil supply who also support the meeting in Doha, Qatar;
   3.Based on EIA (Energy Information Administration) report in March 2016, the stock decrease in the United States happened in the third week of March 2016 comparing to the end of February 2016 as follows:
   a.Gasoline stock decreased for 9, 9 million barrel.
   b.Distillates stock decreased for 1, 3 million barrel.
   4.Based on Baker Hughes report in March 2016, the world rig utilization in February 2016 decreased for 200 rig comparing to January becoming 1.695 rig;
Based on ICE US Dollar Index (DXY), the trend of US dollar exchange rate comparing to the six world majority currencies decreased for 3, 80 point, from 98, 37 to 94, 57 if comparing to February 2016.

For Asia Pacific, the increase of crude oil supply is caused by the above mentioned reasons and also the following reasons:
  1. The increase of Tiongkok’s imported crude from Kuwait for 2, 1% to 250 million BOPD comparing to the previous month;
  2. The increase of refinery utilization in Japan for 1% to 543.509 KL per day.
The main crude oil price in international market in March 2016 comparing to February 2016 increased as follows:
  1. WTI (Nymex) increased for US$ 7, 37 per barrel from US$ 30, 62 per barrel to US$ 37, 99 per barrel.
  2. Brent (ICE) increased for US$ 6, 26 per barrel from US$ 33, 53 per barrel to US$ 39, 79 per barrel.
  3. Basket OPEC increased for US$ 5, 92 per barrel from US$ 28, 72 per barrel to US$ 34, 64 per barrel. (AK)