Oil Price Drops Due to Over-supply
Kamis, 1 Januari 1970 07:00 WIB
TEMPO.CO , Jakarta - Global oil price drops following investor's concern of over-supply. United States reference, the West Texas Intermediate (WTI) for September shipment dropped US$1.06 at US$ 43.13 per barrel in the New York Mercantile Exchange, the lowest in 3 months.
In London, Brent North Sea for September shipment reached the lowest since May; dropping 97 cents at US$44.72 per barrel.
The Energy Information Agency of the United States have reported that crude oil supply has actually lowered, but fuel supply has jumped at the same time - increasing 911,000 barrels last week only.
Analysts have also said that dollar rebound has given pressure to oil supply, thus the price remains high.
United States new operating oil rigs have also sparked concern that the over-supply will last for some time.
ANTARA
BPS Reports January Exports for Coal 'Sluggish' at US$2.41 billion
16 Februari 2024
BPS Reports January Exports for Coal 'Sluggish' at US$2.41 billion
BPS reported that the January exports for coal were sluggish in Indonesia.
Read More
January Export Drops 8.34% at US$20.52 billion, BPS Reports
15 Februari 2024
January Export Drops 8.34% at US$20.52 billion, BPS Reports
BPS recorded the January export value of Indonesia at US$20.52 billion, an 8.34 percent decline compared to December.
Read More
Jokowi Asks Tanzanian President to Open Negotiations on LNG, Fertilizer Investment
25 Januari 2024
Jokowi Asks Tanzanian President to Open Negotiations on LNG, Fertilizer Investment
Indonesian President Jokowi highlights investment cooperation in the oil and gas sector during a meeting with Tanzanian President Samia Suluhu today.
Read More
Import Value Shows Steady Decline in Latter Half of 2023, BPS Says
15 Januari 2024
Import Value Shows Steady Decline in Latter Half of 2023, BPS Says
BPS recorded that the value of imports in December 2023 reached US$19.11 billion, a 2.45 percent decline compared to the previous month.
Read More
BPH Migas Predicts Gasoline, Plane Fuel Distribution to Rise in Holiday Seasons
16 Desember 2023
BPH Migas Predicts Gasoline, Plane Fuel Distribution to Rise in Holiday Seasons
BPH Migas predicts that the distribution of gas oil and jet fuel will increase during the Christmas and New Year periods.
Read More
Indonesia, South Korea Explore Partnership on Carbon Capture Development
29 November 2023
Indonesia, South Korea Explore Partnership on Carbon Capture Development
Indonesia is exploring a partnership with South Korea to develop carbon capture and storage/carbon capture, utilization, and storage technology.
Read More
Indonesia's Trade Surplus Surpasses US$3.42 billion
17 Oktober 2023
Indonesia's Trade Surplus Surpasses US$3.42 billion
According to Statistics Indonesia, the balance of trade surplus in Indonesia continues to September 2023, surpassing US$3.42 billion.
Read More
Pertamina Expands to Africa's Upstream-Downstream Oil & Gas Industry
29 September 2023
Pertamina Expands to Africa's Upstream-Downstream Oil & Gas Industry
PT Pertamina inked an agreement yesterday in Jakarta with Guma Africa Group Limited.
Read More
Pertamina Subholding Increases Production, Improves Business Development
29 Juli 2023
Pertamina Subholding Increases Production, Improves Business Development
Pertamina upstream sub-holding, PT Pertamina Hulu Energi (PHE), continues to improve the unlock value activities.
Read More
SKK Migas Sets 2023 Investment Target at US$15.5bn
21 Juli 2023
SKK Migas Sets 2023 Investment Target at US$15.5bn
The Upstream Oil and Gas Activities Special Task Force (SKK Migas) is targeting to achieve US$15.5 billion in actualized investments by 2023's end.
Read More
Recomended
17 Juni 2022
17 Juni 2022
17 Juni 2022
17 Juni 2022
17 Juni 2022
16 Juni 2022
16 Juni 2022
16 Juni 2022
16 Juni 2022
16 Juni 2022