TEMPO.CO, Jakarta - The Ministry of Energy and Mineral Resources (ESDM) has set the average price of the Indonesian Crude Price (ICP) in April 2026 at US$117.31 per barrel. The price increased by US$15.05 since March 2026, when it was recorded at US$102.26 per barrel.
"The increase in crude oil prices in April 2026 is influenced by the continuing escalation of geopolitical conflict, which increases the risk of disruption in the world's oil supply, especially related to the conditions in the Middle East and the Strait of Hormuz," said the Director General of Oil and Gas at the Ministry of ESDM, Laode Sulaeman, as quoted from Antara, on Tuesday, May 19, 2026.
This determination was approved in the Minister of ESDM's Decision Number 203.K/MG.03/MEM.M/2026 concerning Crude Oil Prices in April 2026.
According to Laode, various developments throughout April 2026 also put pressure on the world oil market. These developments range from the turmoil in the Strait of Hormuz, the blockade of Iranian ports by the United States, to attacks on energy infrastructure in the Middle East.
These conditions have led to increased market concerns about the stability of global energy supply. In addition to geopolitical factors, China's annual 5 percent economic growth in the first quarter has provided positive sentiment regarding global oil demand.
Laode added that although world oil prices could still be under pressure due to global geopolitical conditions, several factors could prevent price increases. Among these factors are projections for a 5 million bph year-on-year decrease in global oil demand in the second quarter and the potential reopening of peaceful diplomatic channels between Iran and the United States.
"The government will continue to carefully monitor global oil market developments to maintain national energy resilience and ensure the stability of domestic energy supply," said Laode.
In detail, the developments in the average prices of main crude oil in April 2026 compared to March 2026 experienced the following increases:
- The average ICP of crude oil in Indonesia increased by US$15.05, from US$102.26 to US$117.31 per barrel.
- Brent (ICE) increased by US$2.86, from US$99.60 to US$102.46 per barrel.
- WTI (Nymex) increased by US$7.06, from US$91.00 to US$98.06 per barrel;
- Dated Brent increased by US$16.66, from US$103.89 to US$120.55 per barrel.
- The OPEC Basket decreased by US$7.81, from US$116.36 to US$108.55 US dollars (as of April 29, 2026).
Read: Russian Firm to Resume Indonesia's Tuna Block Project in June
Click here to get the latest news updates from Tempo on Google News
Cuba's Power Grid 'Critical' as US Blocks Fuel Shipments
4 hari lalu
Protests flared in Havana amid widespread blackouts. Cuba officials met CIA Director John Ratcliffe with a goal of improving bilateral cooperation.
Global Oil Prices Ease to $104 a Barrel After Recent Surge
13 hari lalu
Brent crude futures pushed oil prices above US$120.94 per barrel on April 30, 2026.
Indonesia Eyes Russian LPG Imports Alongside Crude Oil
16 hari lalu
Energy Minister Bahlil Lahadalia confirms Russian crude oil will soon arrive in Indonesia, with plans to also explore LPG imports.
US Military Intercepts at Least Three Iranian Oil Tankers in Asian Waters
26 hari lalu
The US military has reportedly intercepted at least three Iranian oil tankers in Asian waters.
Pertamina Raises 12-kg LPG Price amid Global Oil Surge
29 hari lalu
Pertamina Patra Niaga has raised non-subsidized 12-kg LPG prices to Rp228,000 per cylinder.
Indonesia Plans to Begin Russian Oil Imports This Month
31 hari lalu
The Minister of Energy and Mineral Resources added that the plan to import oil from Russia would not reduce imports from the U.S.
Russia to Supply Crude Oil and Build Refineries in Indonesia
31 hari lalu
Minister Bahlil reveals Russia's readiness to supply crude oil and invest in Indonesian refineries following Prabowo's meeting with Vladimir Putin.
US Energy Deal Unruffled as Indonesia Looks to Russia for Oil Supply
32 hari lalu
Indonesia will receive crude oil supplies from Russia, according to Energy Minister Bahlil Lahadalia.
Indonesia Secures Oil, LPG Supply Deal with Russia
34 hari lalu
This LPG and oil supply agreement is part of the results of Indonesian President Prabowo Subianto's visit to Moscow, Russia.
Global Oil Prices Jump as Trump's Hormuz Deadline Approaches
41 hari lalu
Brent crude, the global benchmark, rose 1.4 percent to US$111.33 per barrel, while U.S. West Texas Intermediate climbed 2.8 percent to US$115.61.
:strip_icc():format(jpeg)/kly-media-production/medias/5485282/original/038819000_1769501489-pikojerico-175__1_.jpg.jpeg)
:strip_icc():format(jpeg)/kly-media-production/medias/5469659/original/035473400_1768147710-AP26011538947384.jpg)