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Oil Market Plunges, Need Joint Action to Rise the Price

JAKARTA (TheInsiderStories) - The global oil prices fell almost 8 percent on Thursday (03/26) amid the price war between Saudi Arabia and Russia. Yesterday, price of West...

Indonesia’s February ICP Lowering to US$56.61 a Barrel

JAKARTA (TheInsiderStories) - The average of Indonesia Crude Price (ICP) in February 2020 stood at US$56.61 per barrel, said the energy and mineral resources ministry last...

OPEC Proposes 1.5M barrels Cut, Oil Prices still Weaken

JAKARTA (TheInsiderStories) - The heads of Organization of the Petroleum Exporting Countries (OPEC) recommended an extending the duration of the proposed 1.5 million barrels per...

Morning Briefing: China Rolls Out Fiscal Stimulus

JAKARTA (TheInsiderStories) - Chinese President Xi Jinping chaired a leaders meeting to study the major tasks in preventing and controlling the coronavirus disease and stabilizing...

OPEC+ Meets to Evaluate the Oil Prices on Thursday

JAKARTA (TheInsiderStories) - Organization of the Petroleum Exporting Countries (OPEC) and its allies is to meet in Vienna, Austria on March 5 - 6, to decide...

Weekly Briefing: Investors Eager to See Economic Trends Amid the Coronavirus

JAKARTA (TheInsiderStories) - Good Morning! A busy economic calendar this week, starts with Statistic Indonesia February' inflation report and foreign exchange reserves on Friday. Last January,...

Global Oil Prices Falls 23 Percent During 2020

JAKARTA (TheInsiderStories) - Global oil prices have fallen in line with growing concern over the transmission of the coronavirus and its impact on the economy....

Morning Briefing: The Latest Forex Reserves Announces by BI Today

JAKARTA (TheInsiderStories) - Good Morning! The latest foreign exchange (forex) reserves position will announces by Bank Indonesia (BI) today. Last December the reserves stood at US$192.2...

Oil Prices Climbs After OPEC, Allies Considers Further Cut Output

JAKARTA (TheInsiderSTories) - After dropped below US$50 a barrel on Tuesday, oil price boosted by the Organization of the Petroleum Exporting Countries (OPEC) and its allies...

OPEC Considers to Moves March’s Meeting to February

JAKARTA (TheInsiderStories) - Organization of the Petroleum Exporting Countries (OPEC) members are considering holding an emergency meeting in February after oil prices slumped on concern the...

Indonesian Crude Price Rises to US$67.18 in December

JAKARTA (TheInsiderStories) - Indonesian crude prices (ICP) reached US$67.18 per barrel in December, increase $3.92 from $63.26 per barrel in the previous month, the...

Indonesian Crude Price Rises to US$63.26 in November

JAKARTA (TheInsiderStories) - The average price of Indonesian Crude Price (ICP) has increased to US$63.26 a barrel from $59.82 per barrel in the previous...

OPEC, Russia Agrees to Cut Oil Production 500,000 Barrels

JAKARTA (TheInsiderStories)- Organization of the Petroleum Exporters Countries (OPEC) and Russia agreed to make a further cut of oil production around 500,000 barrels per...

Oil Prices Rise on Hopes for Extra Cuts by OPEC

JAKARTA (TheInsiderStories) - Oil prices have edged up on expectations that the Organization of the Petroleum Exporting Countries (OPEC) and its allies that include...

Morning Briefing: Trump Willing to Finalize Phase I Trade Deal After...

JAKARTA (TheInsiderStories) - Good Morning! During NATO meeting in London, United States (US) President Donald Trump stated he was willing to finalize the "phase I"...

Morning Briefing: BI Announces BI-7DRR, The Fed Lowered FFR

JAKARTA (TheInsiderStories) - Bank Indonesia (BI) will announces the position of BI-7 Days Reverse Repo in this month and the third quarter assessment. Last month, the...

US Rises Crude Oil Stockpiles, Price Slid Below US$53 a Barrel

JAKARTA (TheInsiderStories) - The American Petroleum Institute reportedly an increase in crude oil stockpiles of 10.5 million barrels. This will be the biggest jump since February...

OPEC Revises Down Oil Demand to 980,000 Barrels per Day in...

JAKARTA (TheInsiderStories) - The Organization Petroleum Exporting Countries (OPEC) forecast world oil demand to grow by 980,000 barrels a day (bpd) in 2019, or down from...

Morning Briefing: US – China Seated One Table

JAKARTA (TheInsiderStories) - Good Morning! United States (US) treasury secretary Steven Mnuchin and trade representative Robert Lighthizer seated one table again with Chinese vice premier...

Global Oil Price Touches the Highest Level Since July

JAKARTA (TheInsiderStories) - The global oil price touched its highest level since end of July after rose on the fifth trading days. This morning, West Texas...

Indonesia Crude Price Lowering to US$57.26 a Barrel in August

JAKARTA (TheInsiderStories) - Energy and mineral resources (EMR) ministry stated that the trade war between the United States and China affected the average Indonesian Crude Price...

Oil Prices Rise With Hopes US’s Fed Cut Interest Rates

JAKARTA (TheInsiderStories) - Oil prices rise more than 2 percent to its value as it broke $58 level on Tuesday (07/30). West Texas Intermediate (WTI)...

Iran Rejects US Accusations on Nuclear Agreement

JAKARTA (TheInsiderStories) - Iran on Tuesday (07/02) rejected the United States (US) accusations that Tehran has long violated the provisions of its nuclear agreement...

Morning Briefing: Indonesia Considers to Allows Foreign Ownership in Insurance Firm...

JAKARTA (TheInsiderStories) – Indonesian government proposed "grand fathering" or an exception to Government Regulation Number 14 Year 2018 for foreign investors to have insurance...

OPEC+ Meeting Its Expecting Give “Fresh Air” to Commodity Market

JAKARTA (TheInsiderStories) - The meeting of the Organization of Petroleum Exporting Countries, Russia and other countries (OPEC+) will held today in Vienna, Swiss. The meeting its...

Morning Briefing: Oil Prices Jump After OPEC Extends the Cutting Production...

JAKARTA (TheInsiderStories) – Good morning! Yesterday, oil prices rising more than 1 percent after the Organization of Petroleum Exporting Countries (OPEC) agreed to extend restrictions...

Global Oil Prices Fall Amid Low Demand

JAKARTA (TheInsiderStories) - Global oil prices fell almost 1 percent amid the low demand. This morning, West Texas Intermediate prices for July 2019 shipments on the...

Saudi Arabia Asks Oil Producers Lowering the Production

JAKARTA (TheInsiderStories) - Delicate situation of oil price made Saudi Arabia recommended oil producer countries to gently driving oil inventories down. It sees no need to...

Global Oil Supply Falls in April 2019, says OPEC

JAKARTA (TheInsiderStories) - Global oil supply in April slightly decreased by 0.07 million barrels per day (bpd) to average 98.82 million bpd, compared with the...

EIA Revises 2019’s Global Crude Oil Production to 30.3MBPD

JAKARTA (TheInsiderStories) - United States' Energy Information Administration (EIA) revised down Organization of the Petroleum Exporting Countries (OPEC) crude oil production around 30.3 million...