Extension of OPEC Production Restriction Print ICP Prices

The policy of the Organization of the Petroleum Exporting Countries (OPEC) extended the time limits on crude oil production by the end of 2018. This policy has subsequently influenced the rise of world oil prices which also affected the rise of Indonesian Cruide Price (ICP).

The Indonesian Oil Price Team of the Ministry of Energy and Mineral Resources (EMR) released an average ICP rise to US $ 60.90 per barrel in December 2017, up US $ 1.56 per barrel from US $ 59.34 per barrel at previous month. This figure sets Indonesia's record high crude oil prices throughout 2017.

The increase of ICP is inseparable from the increase of world oil price which is influenced by several factors. As stated in the OPEC publication that crude oil production from OPEC countries in November 2017 decreased by 0.1 million barrels per day, bringing production to 32.45 million barrels per day. Total oil production in November was down and October 2017 which amounted to 32.58 million barrels per day.

It is also known that the largest oil pipeline in the United Kingdom, North Sea Forties, which drains about 450,000 BOPD of oil shut down. This disruption also affects the increasing world oil prices at the end of 2017.

There were also international events that contributed to the rise in world oil prices such as the explosion at the New York Port Authority bus station, the strike of oil workers' work in Nigeria, the increasing use of gasoline in the United States at Christmas Holiday, as well as the increasing geopolitical risks in the Middle East the US President's statement on Jerusalem, and growing demand for crude in China.

The world crude oil price per December 2017 is Dated Brent US $ 64.19 per barrel. Brent US $ 64.09 per barrel, WTI (Nymex) US $ 57.95 per barrel.

IN INDONESIA

Perpanjangan Pembatasan Produksi OPEC Cetak Harga ICP

Kebijakan Organization of the Petroleum Exporting Countries (OPEC) memperpanjang waktu pembatasan produksi minyak mentah hingga akhir tahun 2018. Kebijakan ini kemudian turut mempengaruhi naiknya harga minyak dunia yang berpengaruh juga pada naiknya Indonesian Cruide Price (ICP).

Tim Harga Minyak Indonesia Kementerian Energi dan Sumber Daya Mineral (ESDM) merilis rata-rata ICP naik menjadi US$ 60,90 per barrel pada bulan Desember 2017, naik sebesar US$ 1,56 per barel dari US$ 59,34 per barel pada bulan sebelumnya. Angka ini mencetak rekor harga minyak mentah Indonesia tertinggi sepanjang tahun 2017.

Peningkatan ICP ini tidak terlepas dari peningkatan harga minyak dunia yang dipengaruhi beberapa faktor. Seperti yang tercantum dalam publikasi OPEC bahwa produksi minyak mentah dari negara-negara OPEC pada bulan November 2017 turun sebesar 0,1 juta barel per hari, sehingga produksi menjadi sebesar 32,45 juta barel per hari. Jumlah produksi minyak di bulan November ini turun dan bulan Oktober 2017 yang sebesar 32,58 juta barel per hari.

Diketahui pula bahwa jalur perpipaan minyak terbesar di United Kingdom, North Sea Forties yang mengalirkan sekitar 450.000 BOPD minyak mengalami shut down. Gangguan ini juga turut mempengaruhi meningkatnya harga minyak dunia di penghujung tahun 2017.

Selain itu pula terdapat beberapa Kejadian internasional yang berkontribusi terhadap meningkatnya harga minyak dunia seperti terjadinya ledakan di terminal bus New York Port Authority, aksi mogok kerja buruh minyak Nigeria, meningkatnya penggunaan gasoline di Amerika Serikat saat Christmas Holiday, juga meningkatnya resiko geopolitik di Timur Tengah akibat pernyataan Presiden Amerika terkait Jerusalem, serta meningkatnya permintaan minyak mentah di China.

Adapun harga minyak mentah dunia per Desember 2017 yakni Dated Brent US$ 64,19 per barel. Brent US$ 64,09 per barel, WTI (Nymex) US$ 57,95 per barel.

Investor Daily, Page-9, Saturday 6, 2018