Indonesia December Crude Price Falls 2% on Higher Supply
Indonesia’s average oil export price fell 2 percent in December from the previous month after the Organization of Petroleum Exporting Countries agreed to increase quotas and Libyan output rose.
The Indonesian Crude Price fell to $110.70 a barrel in December from $112.94 a barrel in November, the directorate general of oil and gas at the energy ministry said in a statement today in Jakarta.
Indonesia (OLRSINDO)’s Minas grade fell 3 percent to $112.52 a barrel in December from $116.04 a barrel in November, the ministry said. The nation’s oil export price averaged $111.55 a barrel in 2011, compared to $109.94 in 2010, it said.
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