Indonesia's oil lifting in 2016 reached 876,900 barrels per day (bpd), a 7.4 percent increase from the previous month. This is the highest figure in the last five months. Based on data from the Ministry of Energy and Mineral Resources, PT Chevron Pasifik Indonesia (Rokan PSC) recorded the highest contribution, namely 231,870 bpd, followed by Mobil Cepu Ltd at 182,000 bpd.
Indonesia's crude oil production peaked in March 2016 with lifting reaching 923,300 barrels per day and was lowest in January 2016 at only 711,200 barrels per day. The revised 2016 State Budget (APBN) targeted oil lifting at 820,000 barrels per day. Until November, the average Indonesian oil lifting reached 824,000 bpd. Meanwhile, the 2017 APBN lowered the oil lifting target to 780,000 bpd.
To secure the APBN, the government implemented a policy of freezing its membership in the Organization of the Petroleum Exporting Countries (OPEC) because it was deemed inconsistent with national interests. Indonesia was asked to reduce its production by approximately 5 percent, or about 37,000 bpd. This is despite the government's efforts to increase oil production to boost state revenue and reduce the deficit. As is known, to increase oil prices, OPEC decided to cut its oil production by 1.2 million bpd, effective January 2017.