The average price of Indonesian Crude Price (ICP) for May 2026 has\nbeen set at US$106.56 per barrel. This figure represents a significant\ndecrease compared to the April 2026 position, which stood at US$117.31\nper barrel.<\/p>\n
The Director General of Oil and Gas, Laode Sulaeman, stated that this\nUS$10.75 per barrel drop in ICP aligns with the downward trend in major\nglobal crude oil prices, particularly Dated Brent. According to him,\nthis condition was triggered by the easing of geopolitical tensions in\nthe Middle East region.<\/p>\n
\u201cThe average ICP for May 2026 is set at US$106.56 per barrel. This\npositive development is generally influenced by improvements in global\nsupply as global geopolitical conflicts subside,\u201d Laode said in an\nofficial statement in Jakarta on Saturday.<\/p>\n
Laode explained that the global oil market is responding to signals\nof conflict de-escalation between the United States, Israel, and Iran.\nUS President Donald Trump\u2019s policies, which provided positive signals\nregarding the possibility of ending the conflict and progress in\nnegotiations with Iran, were key factors. Additionally, the cancellation\nof plans for further attacks on Iran and the temporary exemption of\nsanctions on Russian oil have also pressured international market\nprices.<\/p>\n
Beyond geopolitical factors, the price decline is also driven by\nweakening global demand prospects. The International Energy Agency (IEA)\nestimates that global oil demand will fall by 420,000 barrels per day to\napproximately 104 million barrels per day, with the deepest decline\noccurring in the second quarter of 2026.<\/p>\n
In the Asian region, a decrease in crude oil imports was recorded in\nChina, Japan, South Korea, and India. Crude oil refining activity in\nChina even reached its lowest level in 44 months, falling 5.8%\nyear-on-year to 13.35 million barrels per day.<\/p>\n
The government has affirmed that it will continue to monitor global\nenergy market dynamics to maintain the stability of national energy\nsupply and prices. \u201cWe are committed to maintaining national energy\nsecurity and ensuring the availability of supply for the public through\nanticipatory measures,\u201d concluded Laode.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/indonesian-crude-price-drops-to-us-106-56-1780806359", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }