JAKARTA (Yosefardi) – Average price of Indonesian crude oil in March 2014 was US$106.9 per barrel, increased US$0.82 in previous month.
The incrase was in line with growing demand, mainly direct burning from Japan.
While in global market, crude oil price declined to US$100.51 per barrel for WTI (Nymex) in March 2014, to US$107.75 per barrel for Brent (ICE), and to 104.15 per barrel for OPEC.
The decline were due to higher supply, potential slowdown of global economic growth, mainly China’s economy as China is the second largest consumer of oil and gas.