REPUBLIKA.CO.ID, JAKARTA - Indonesia Crude Price (ICP) rose to 111.07 USD a barrel in January from 106.90 USD in a month earlier because of rising winter demand for heating oil in Europe. Indonesia's Minas (Sumatra Light Crude) grade increased 6.94 USD to 115.95 USD a barrel from 106.90 USD a barrel in the same period.
US economic recovery ans Japan's 116 billion IDR stimulus package that aims to lift the country's economy as well as increasing demand of oil from 0.11 to 0.30 million barrel per day also become the factor.
"But for the future, we still predict it," Director General of Oil and Gas at the Ministry of Energy and Mineral Resources, A Edy Hermantoro, said on Monday. If energy demand in North America is filled with unconventional oil and gas, such as shale gas, the ICP will be stable.
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