| Indonesian Crude Oil (ICP) April Reached U.S. $ 85.54 |
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| Tuesday, 04 May 2010 10:20 | |||||||
Page 1 of 2 JAKARTA. Based on ICP Formula calculation, the average price of crude oil Indonesia during the month of April 2010 reached U.S. $ 85.54 per barrel, up $ 6.83 U.S. per barrel from the month of March reached U.S. $ 78.71 per barrel.
While the price of Minas / SLC for U.S. $ 89.16 per barrel, rising to U.S. 8.57 U.S. dollars per barrel from the previous month which reached U.S. $ 80.59 per barrel. According to Tim Price of Oil Indonesia, the increase is consistent with the increased price of crude oil in international markets influenced by several factors, namely evaluation of the oil market analyst for the year 2010, such as the IEA (International Energy Agency) in the April 2010 report that estimated demand Global oil for 2010 will be increased by 1.7 million barrels per day to 86.6 million barrels per day. OPEC also reported that the estimated increase in world oil demand growth for 2010 at 1.1% or 0.9 million barrels per day to 85.2 million barrels per day. This increase was primarily due to increased demand from the transportation and petrochemical activities in non of OECD countries. Evaluation EIA (Energy Information Administration) estimates that U.S. global oil consumption for 2010 would be increased by 1.46 million barrels per day to 85.50 million barrels per day or up 7%. This estimate is based on consideration of the global economic recovery and growth in world GDP asumsu exceed 3% per year. The increase in world oil prices is also due to the IMF estimates that global growth increased in 2010 from 3.9% to 4.2%. Estimates are based on consideration of strengthening economic growth in developing countries especially in Asia and the improved economy developed countries. In addition, the EIA said U.S. gasoline stocks declined despite U.S. refineries operating at the highest level in almost two years. This indicates start improving U.S. fuel demand. Policy of the Federal Open Market Committee (FOMC), the U.S. Federal Reserve to keep interest rates at a very low level current that is 0% -0.25%, so expect to stimulate the U.S. economy. "The strengthening global equity markets and the weakening U.S. dollar, especially against the euro partly because of loosening of the debt crisis of Greece, also affect international oil prices," said Tim Price of Oil Indonesia. For the Asia Pacific region, the increase in crude oil prices also caused by the cessation of nuclear reactor operation No. 7 (1356 MW), owned by Tokyo Electric Power Co.. (TEPCO), Japan's Kashiwazaki Kariwa station was to do routine maintenance. Learn the average price development of crude oil in international markets in April, 2010, as follows:
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