JAKARTA (Yosefardi) – Average price of Indonesian crude oil (ICP) in January 2015 was US$45.30 per barrel, dropped 24% from US$59.56 in previous December 2014.
The decline was in line with declining crude oil price in international market due to increasing supply of oil from members of OPEC such as Irak.
Meanwhile the global oil demand is expected to reach 93.3 million barrels per day in 2015. Nymex’s crude oil increased 0.6% to US$48.74 per barrel in Asian trading this morning.