Similarly, the team told the Indonesian oil price in the Directorate General of Oil and Gas Ministry of Energy and Mineral Resources (EMR) on Tuesday (2 / 8). While the price of foreign oil (light sweet crude / SLC) reached U.S. $ 119.03 per barrel, up U.S. $ 3.71 per barrel from U.S. $ 115.32 per barrel in the previous month.
According to the Indonesian oil prices, increased ICP in line with the development of a major crude oil prices in international markets due to several factors, namely the approval of the bailout package to deal with debt issues by European leaders Greece. Amounting to 159 billion euros. It was measured enhance market confidence over the projected improvement of the world economy that could push world oil demand.
"In addition, the weakening of the dollar against several major world currencies, especially euros and an increase in U.S. consumer confidence numbers," said team Indonesia oil prices. Increasing oil prices also caused an increase in crude oil forecast by some oil market analysts institutions, such as the International Energy Agency (IEA) and the Central for Global Energy Studies (CGES).
In a report last July, the IEA estimates that world oil demand in 2011 will rise 0.2 million barrels per day to 89.5 barrels per day which sustained strong economic growth in the world especially the U.S. and Japan, and the anticipation of increased consumption of oil during the summer and winter . While CGES estimate of 2011 global oil demand will increase by 0.9 million barrels per day or 1% to 88.8 million barrels per day oil consumption resulting from increased non-OECD countries.
For the Asia Pacific region, prices increased due to additional oil demand by power companies in Japan during the high electricity consumption for air conditioning due to increased air temperatures during summer. (ML/OL-2)
