OPEC AND OIL PRICES
Indonesia Increases Heavy Crude Prices
Indonesia's Pertamina has announced price increases ranging between 10 and 72 cents/B effective 1 August. It is also reportedly expected that Pertamina will charge a 50-cent/B premium on lighter crudes such as Minas (current official price $17.56/B), without changing the official price which is one of those listed in the OPEC $18/B "basket" and cannot therefore be altered without breaching the OPEC agreement. The new...
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