Price of Indonesia's Main Crude Oil Type, Belida, Reaches Highest Price

The rise in global crude oil prices has also impacted Indonesian oil prices. Based on data from the Directorate General of Oil and Gas, Indonesia's main benchmark crude oil price exceeded US$60/barrel in March 2018.

In March 2018, the Indonesian benchmark crude oil, Belida type, was sold at US$64.44/barrel, the highest compared to other benchmark crude oil prices. This crude oil type had the lowest alpha, namely only US$1.46/barrel from the Brent crude oil benchmark price of US$65.9/barrel. The second most expensive Indonesian benchmark crude oil was the Senipah Condensate type at US$64.01/barrel with an alpha of US$1.89/barrel. Meanwhile, the lowest was the Duri type at US$60.26/barrel with the largest alpha, namely US$5.64/barrel.

Meanwhile, the price of WTI crude oil in Asian trading on Thursday (3/5) was traded at US$67.8/barrel, and Brent crude oil was traded at US$73.19/barrel.