Crude oil exports set

Crude oil exports set

SINGAPORE (Reuters): Indonesia state oil company Pertamina
has allocated its monthly May crude export volumes to affiliates
and term buyers, but has not given directives to producers about
production cutbacks, foreign producers in Indonesia said
yesterday.

"We haven't received any official notification about cutting
production, we're still producing at steady levels," said a
source at a major producer in Indonesia.

Other producers said their output has been mostly steady since
before global production cuts came into force.

"We are expecting some sort of letter from Pertamina about
cutbacks, but so far there's been nothing yet," said another
producer.

Indonesia, the only Asian member of the Organization of the
Petroleum Exporting Countries (OPEC), signed an agreement March
30 in Vienna to cut crude production by 70,000 barrels-per-day
from April 1.