ASIATODAY.ID, JAKARTA — Energy markets across Asia are heating up again.
The Ministry of Energy and Mineral Resources (ESDM) has set the Indonesian Crude Price (ICP) for September 2025 at USD 66.81 per barrel, marking an increase of USD 0.73 from USD 66.07 per barrel in August 2025.
The decision is stated in Ministerial Decree No. 336.K/MG.03/MEM.M/2025 on Crude Oil Prices for September 2025, signed on October 8, 2025.
“The movement of Indonesia’s ICP in September 2025 was strongly influenced by dynamics in the Asian market, particularly higher demand after India’s monsoon season and the sharp rise in Asian Naptha crack spreads,” said Director General of Oil and Gas, Laode Sulaeman, in Jakarta, Friday, October 17, 2025.
Asian Demand Drives Price Momentum
The Asia-Pacific region has become the main engine of global oil price momentum. India, one of the world’s largest importers, is experiencing a surge in fuel demand as industrial and transportation activities rebound after the monsoon season.
At the same time, Asian Naptha crack prices have spiked due to planned refinery maintenance in the Middle East and tight supply from Russia and Africa. These factors have intensified supply pressure, directly contributing to the rise in crude oil prices across Asia.
This regional uptrend has pushed Indonesia’s ICP higher, offsetting the downward pressure caused by additional oil supply from OPEC+.
Global Geopolitics Still Casts a Shadow
Despite Asia’s strong demand, global geopolitical tensions continue to shape market volatility. The Russia–Ukraine conflict has forced around 17% of Russian refineries to shut down, while rising instability in the Middle East poses fresh risks to global energy supply.
Meanwhile, U.S. tariff measures of up to 100% on China and India, aimed at pressuring Russia economically, have further complicated the global trade landscape, adding uncertainty to Asia’s energy supply chains.
Average Global Crude Prices (September vs August 2025):
Dated Brent: down USD 0.19/bbl → from USD 68.21 to USD 68.02
WTI (Nymex): down USD 0.49/bbl → from USD 64.02 to USD 63.53
Brent (ICE): up USD 0.31/bbl → from USD 67.26 to USD 67.58
OPEC Basket: up USD 0.72/bbl → from USD 69.73 to USD 70.45
Indonesia’s ICP: up USD 0.73/bbl → from USD 66.07 to USD 66.81
The increase in Indonesia’s ICP reflects a broader shift in the global energy balance toward Asia. With demand rising steadily in India, China, and Southeast Asia, the region is increasingly defining the direction of global oil prices.
If Asia’s consumption trend continues through the fourth quarter of 2025, Indonesia’s ICP could exceed USD 67 per barrel, signaling that Asia is no longer just a consumer—but a key driver of global energy dynamics. (AT Network)
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