Research and consultant company, Wood Mackenzie predicted stable crude oil price for the next 18 to 24 months. The stagnant price is considering bigger supply reduction from Iran over United State’s sanction. But on the other hand, oil supply from US will be increasing. Seeing the recent oil price slump, Indonesia’ Ministry of Energy and Mineral Resources (MEMR) has called PT Pertamina also other fuel producers and distributors, local and foreign. The ministry asked for non-subsidy fuel price adjustment, over the price weakened. Government is now waiting their pricing adjustment letters.
