{
    "success": true,
    "data": {
        "id": 1869234,
        "msgid": "energy-ministry-projects-july-icp-at-us-67-71-per-barrel-1784526828",
        "date": "2026-07-20 12:22:40",
        "title": "Energy Ministry projects July ICP at US$67-71 per barrel",
        "author": "",
        "source": "ANTARA_ID",
        "tags": "",
        "topic": "Energy",
        "summary": "Indonesia's Energy and Mineral Resources Ministry has projected the Indonesian Crude Price (ICP) for July 2026 to range between US$67 and US$71 per barrel. The forecast follows a June realisation of US$83.45 per barrel, which was pressured by easing geopolitical tensions in the Middle East. The ministry cautioned that future prices remain dependent on global supply dynamics and potential disruptions.",
        "content": "<p>Jakarta (ANTARA) - The Ministry of Energy and Mineral Resources\n(ESDM) projects that the average Indonesian Crude Price (ICP) for July\n2026 will be in the range of 67\u201371 US dollars per barrel.<\/p>\n<p>\u201cThe realised price will depend on market developments and the global\ngeopolitical situation,\u201d said the ministry\u2019s Director General of Oil and\nGas, Laode Sulaeman, when contacted by ANTARA in Jakarta on Monday.<\/p>\n<p>He noted that the risks that still need to be monitored include the\npossibility of new escalations of attacks that could disrupt oil\nproduction.<\/p>\n<p>On the other hand, increased supply from the Middle East following\nthe reopening of the Strait of Hormuz could put renewed downward\npressure on prices.<\/p>\n<p>\u201cWe are ensuring that the ICP formula remains transparent and\nreflects international market dynamics so that it stays accountable for\nstate finances and upstream oil and gas business activities,\u201d said\nLaode.<\/p>\n<p>The government will base its monitoring of the ICP in the coming\nperiod on developments in supply, demand, and geopolitical conditions.\nChanges in these three factors will determine the direction of\nIndonesia\u2019s crude oil price throughout July 2026.<\/p>\n<p>The Ministry of ESDM set the average Indonesian Crude Price (ICP) for\nJune 2026 at 83.45 US dollars per barrel.<\/p>\n<p>The June ICP determination is stipulated in Minister of Energy and\nMineral Resources Decree Number 282.K\/MG.03\/MEM.M\/2026 on the Indonesian\nCrude Oil Price for June 2026.<\/p>\n<p>Laode said geopolitical developments in the Middle East were the main\nfactor weighing on the ICP during June 2026.<\/p>\n<p>\u201cThis decline was generally influenced by tensions in the conflict\nbetween the United States, Israel, and Iran, which tended to ease\nthroughout June,\u201d said Laode.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/energy-ministry-projects-july-icp-at-us-67-71-per-barrel-1784526828",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}