JAKARTA - The Ministry of Energy and Mineral Resources (ESDM) set the average price of Indonesian Crude Price (ICP) in June 2025 at the level of 69.33 US dollars per barrel.
This figure is up from ICP in May 2025 amounting to 62.75 US dollars per barrel. This observation is stated in the Decree of the Minister of Energy and Mineral Resources Number 229.K/MG.03/MEM.M/2025 concerning the Price of Crude Oil in June 2025 dated July 3, 2025.
The increase in ICP in June 2025 and major crude prices in the international market were influenced by market concerns over crude supply constraints due to increased geopolitical tensions in the Middle East region. Starting from a series of airstrikes involving the United States (US), Iran, and Israel, to the threat of closing the Strait of Hormuz by Iran that could impact the smooth flow of world oil trade.
"The geopolitical tension in the Middle East supports speculation and market sentiment that has strengthened the surge in world oil prices in the futures market, due to the purchase of oil to anticipate further increases," said Acting Director General of Oil and Gas Tri Winarno in a statement to the media, Friday, July 11.
Not only that, based on the OPEC report in June, there was a revised increase in world oil demand for the 3rd quarter of 2025 and full year 2025 compared to previous estimates, each of which was 0.14 million barrels per day. As well as an increase in demand for oil in the US, due to entering the driving season or driving season.
"Another factor that caused an increase in crude oil prices in June 2025 was a decrease in the US dollar exchange rate in June 2025 which prompted global investors to enter oil commodities and had an impact on increasing demand for oil," Tri explained.
In addition, the US and Chinese agreement to significantly cut import rates from May 14 to August 14, 2025 provided positive sentiment in the market, which also led to an increase in oil prices in June.
Meanwhile, for the Asia Pacific region, the increase in crude oil prices, apart from being caused by these factors above, is also influenced by increased demand for oil, especially in China and India, as well as the increase in Official Selling Price (OSP) by Saudi Aramco for oil exports to the Asian region in June 2025, due to the strong regional refinery margin conditions.
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The details of the development of the average price of major crude oil in June 2025 compared to May 2025, have increased as follows:
Brent's date rose by 7.24 dollars per barrel from 64.22 dollars per barrel to 71.46 dollars per barrel.
WTI (Nymex) increased by 6.39 US dollars per barrel from 60.94 US dollars per barrel to 67.33 US dollars per barrel
Brent (ICE) increased by 5.79 US dollars per barrel from 64.01 US dollars per barrel to 69.80 US dollars per barrel.
OPEC Basketball increased by 6.18 US dollars per barrel from 63.62 US dollars per barrel to 69.80 US dollars per barrel.
The average ICP of Indonesian crude oil increased by 6.58 US dollars per barrel from 62.75 US dollars per barrel to 69.33 US dollars per barrel.
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