Rising, September ICP Priced At 66.81 US Dollars Per Barrel

JAKARTA - The Ministry of Energy and Mineral Resources (ESDM) set the average price of Indonesian Crude Price (ICP) in September 2025 of US$66.81 per barrel. This amount increased by US$0.73 per barrel from the ICP August 2025 which was set at US$66.07 per barrel.

This determination is stated in the Decree of the Minister of Energy and Mineral Resources Number 336.K/MG.03/MEM.M/2025 concerning the Price of Crude Oil in September 2025 which was signed on October 8, 2025.

"The rise of the ICP in September 2025, as well as the rise of Brent (ICE) and Basketball OPEC, is influenced by the increased geopolitical risk of Russia-Ukraine which causes fears of supply disruption," said Director General of Oil and Gas Laode Sulaeman, Friday, October 17.

Since June 2025, the Ukrainian attack has left 17 percent of Russian refineries unable to operate. In addition, the President of the United States' (US) invitation to the European Union to charge China and India up to 100 percent to increase economic costs and force Russia to end the war, also played a role in the increase in the ICP this month.

Another factor that also strengthens the trend of increasing ICP is the increase in geopoliticals in the Middle East. This condition also dragged Brent and Basketball OPEC together.

Furthermore, the International Energy Agency (IEA) revised its projected increase in the rate of sexual demand for oil in 2025 year-on-year (yoy) to 740,000 barrels per day this month, higher than last month's publication of 680,000 barrels per day.

However, amid the increase, several major world oil prices such as Dated Brent and WTI (Nymex) have actually decreased due to the increasing supply of OPEC+.

OPEC+ also agreed on an additional supply starting October 2025 of 137 thousand barrels per day, while production in August rose 509 thousand barrels per day, mainly from Saudi Arabia and Iraq. For the Asia Pacific region, crude oil price changes are also influenced by an increase in the price of Crack Naphta Asia, a maintenance plan for a number of refineries in the Middle East, and the potential for oil increase in India after the end of the rainy season.

The development of the average price of major crude oil in September 2025 compared to August 2025 has changed as follows:

Brent' date fell by 0.19 US dollars from 68.21 US dollars per barrel to 68.02 US dollars per barrel

WTI (Nymex) fell by 0.49 US dollars per barrel from 64.02 US dollars per barrel to 63.53 US dollars per barrel

Brent (ICE) rose by USD 0.31 per barrel from USD 67.26 per barrel to USD 67.58 per barrel.

OPEC Basketball rose by 0.72 US dollars per barrel from 69.73 US dollars per barrel to 70.45 US dollars per barrel

The average ICP of Indonesian crude oil increased by 0.73 US dollars per barrel from 66.07 US dollars per barrel to 66.81 US dollars per barrel.