{
    "success": true,
    "data": {
        "id": 1869734,
        "msgid": "indonesia-projects-july-crude-price-at-us-67-us-71-per-barrel-1784537426",
        "date": "2026-07-20 15:31:54",
        "title": "Indonesia projects July crude price at US$67-US$71 per barrel",
        "author": "",
        "source": "ANTARA_EN",
        "tags": "",
        "topic": "Energy",
        "summary": "The Indonesian government has projected its crude oil price for July at between US$67 and US$71 per barrel, with the final figure dependent on market developments and geopolitical conditions. The Ministry of Energy and Mineral Resources highlighted that potential supply disruptions and the reopening of the Strait of Hormuz could influence the trajectory, following a June average price of US$83.45 per barrel. Officials emphasised that continuous monitoring and a transparent pricing formula are essential for maintaining national energy security and fiscal accountability.",
        "content": "<p>\u201cThe actual price will depend on market developments and the global\ngeopolitical situation,\u201d Laode Sulaeman, the ministry\u2019s Director General\nof Oil and Gas, told ANTARA on Monday.<\/p>\n<p>He noted that key risks to watch include the potential escalation of\nnew attacks that could disrupt oil production. Furthermore, increased\nsupply from the Middle East following the reopening of the Strait of\nHormuz could exert downward pressure on prices.<\/p>\n<p>Laode affirmed that the Indonesian government is continuously\nmonitoring the global oil market to maintain price stability and\nsafeguard national energy security.<\/p>\n<p>\u201cWe are ensuring that the ICP formula remains transparent and\nreflective of international market dynamics to maintain accountability\nfor state finances and upstream oil and gas operations,\u201d he\nremarked.<\/p>\n<p>The government will use supply, demand, and geopolitical developments\nas a baseline to monitor the ICP, as shifts in these three factors will\ndetermine the price trajectory throughout July 2026.<\/p>\n<p>Previously, the Ministry of Energy and Mineral Resources set the\naverage ICP for June 2026 at US$83.45 per barrel. This marks a decline\nfrom May 2026, which stood at US$106.56 per barrel.<\/p>\n<p>The June ICP was formalized through the Minister of Energy and\nMineral Resources Decree No.\u00a0282.K\/MG.03\/MEM.M\/2026 regarding the\nIndonesian Crude Price for June 2026.<\/p>\n<p>According to Laode, geopolitical developments in the Middle East were\nthe primary factor pushing the price down throughout June.<\/p>\n<p>\u201cThis decline was generally driven by easing tensions in the conflict\nbetween the United States, Israel, and Iran throughout June,\u201d he\nsaid.<\/p>\n<p>Related news: Indonesia keeps fuel prices steady despite rising crude\noil costs<\/p>\n<p>Related news: Indonesia\u2019s April crude price jumps on geopolitical\nrisks<\/p>\n<p>Related news: Indonesia secures 150 million barrels of Russian oil at\nspecial price<\/p>\n<p>Translator: Putu Indah, Raka Adji<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/indonesia-projects-july-crude-price-at-us-67-us-71-per-barrel-1784537426",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}