Prabowo Calls in Bahlil to Discuss Oil Supply Amid Strait of Hormuz Closure

President Prabowo Subianto convened several ministers for a limited cabinet meeting at the Presidential Palace this afternoon. The meeting addressed, among other matters, mitigation strategies regarding the impacts of ongoing hostilities between the United States and Israel versus Iran.

Energy and Mineral Resources Minister Bahlil Lahadalia stated that the limited meeting focused on deteriorating geopolitical conditions in the Middle East, particularly regarding contingency planning for global oil supply following Iran’s closure of the Strait of Hormuz.

“It concerns the current situation and geopolitics, specifically the closure of Iran’s Strait of Hormuz. This also involves contingency planning for global oil supplies. In any case, we are still conducting imports before Eid,” Bahlil said at the Presidential Palace Complex in Jakarta on Monday (2 March 2026).

Bahlil indicated he would also discuss the matter with the National Economic Council (DEN). He noted that price increases from the closure have already begun manifesting domestically.

“Tomorrow, God willing, I will meet with the National Energy Council. I will report after the meeting. Gradually, some price changes are already appearing,” he stated.

Bahlil confirmed that Indonesia currently maintains a national reserve sufficient for approximately 20 days. To date, he said, there has been no impact felt domestically, including on subsidised prices.

“We still have enough for 20 days. Until now there are no problems, but certainly world prices will adjust as geopolitical tensions continue to intensify in the Middle East,” he noted.

Previously reported by BBC Indonesia, global oil prices surged following attacks on at least three vessels near the Strait of Hormuz. The attacks across the Middle East were carried out by Iran in response to ongoing assault by the United States and Israel.

Two vessels have been struck, and an “unidentified projectile” reportedly “exploded very close” to a third ship, according to the UK Maritime Trade Operations Centre (UKMTO).

Iran has warned vessels against transiting the strait. These vessels carry approximately 20% of global oil and gas supplies.

International shipping has nearly stalled at the strait’s entrance, and analysts warn that prolonged conflict could push oil prices significantly higher.