WTI crude oil advanced 2.24% to US$59.8 per barrel this morning in Asia, while Brent crude rallied further to US$66.8 per barrel. Both have gained 11% and 19% year-on-year respectively. In the meantime, average OPEC basket price for December 2017 is US$61.43 per barrel, way above the target price of Indonesia Crude Price (ICP) set at US$48 per barrel for the 2018 State Budget. While average OPEC basket price, which normally closer to ICP, stayed above US$50 per barrel since September 2017, average price for 2017 is currently US$52.16, way above average price las year (US$40.76).
