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(Indonesia Finance Today)
The average Indonesia Crude Price (ICP) reached US$ 114.37 per barrel in the third quarter of 2012, 8.92 percent higher than the assumption of US$ 105 per barrel in the 2012 State Budget Revision. Based on calculations from Indonesia’s oil price team, the average oil price in September 2012 tends to decline, even though it is still higher than the assumption in State Budget Revision.
Average oil price in September declined US$ 0.7 per barrel to become US$ 111.02 epr barrel, from US$ 111.72 per barrel in August, 2012.
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