JAKARTA (Yosefardi) – Average price of Indonesian crude oil in September, 2013 was US$109.69 per barrel, higher than US$106.56 in previous month.
The increase was in line with crude oil price in international market as world economy was improving. Other factor was the deline in crude oil supply from Organization of Petroleum Exporting Countries (OPEC) mainly due to supply drop from Libya.
Global demand on crude oil also incrased due to cold weather in the north part of the world and political conflicts in some countries in Middle East.
ICP reached its low at US$99.01 per barrel in July this year and reached its high at US$114.86 in February.