| ICP November 2011 U.S. $ 112.94 per barrel |
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| Monday, 05 December 2011 10:34 | |||||||
Page 1 of 2 JAKARTA - The average price of Indonesian crude for November 2011 reached U.S. $ 112.94 per barrel, up U.S. $ 3.69 per barrel from U.S. $ 109.25 per barrel in October 2011.While the price of Minas / SLC reached U.S. $ 116.04 per barrel, up U.S. $ 5.53 per barrel from U.S. $ 110.51 per barrel in the previous month. According to Tim Price of Oil Indonesia, Indonesia's crude oil price increase is in line with the development of a major crude oil prices in international markets, caused by several factors: increased demand for oil due to winter came early in the northern hemisphere and the EIA (Energy Information Agency) in the November 2011 report estimates that world oil consumption for 2011 has increased by 1.1 million barrels per day due to increased oil consumption of China and other developing countries. In addition, global crude oil supply is kept depressed, partly due to not optimal non-OPEC production thus leading to a decrease in global crude oil stocks and kekahawatiran market participants would drop supplies from the Middle East region due to the issue of Iran's nuclear program and political upheaval in Egypt and Syria . Another factor is the improvement in the U.S. economy is indicated by the decline in unemployment and rising consumption and easing market concerns over the financial crisis zone of Europe after an interest rate cut by the European Central Bank. For the Asia Pacific region, according to Tim Price of Oil, price increases underpinned by rising demand for crude oil by refineries Asia (especially China and India) after the expiration of the period of periodic maintenance during the fall and rising oil consumption in Japan kind of direct burning while entering the winter , especially not the operation of a nuclear power plant akibar after earthquake. More development of the average price of crude oil major in international markets in November 2011 compared to October, as follows:
Especially for WTI (NYMEX), the increase in the price of U.S. $ 10.75 per barrel due to increased volume of runoff miinyak WTI U.S. Midwest to the Gulf region refineries in the U.S., which previously had hampered, resulting in a decline in U.S. commercial crude oil stocks. (TW)
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