Indonesia eyes discounted Saudi crude, senior minister says
Crude oil prices rose on Monday as attacks on Saudi Arabia heightened supply concerns, offsetting the prospect of more Russian energy reaching global markets after the US eased sanctions on its diesel exports.
Indonesia is considering purchasing discounted crude oil from Saudi Arabia, according to Coordinating Downstream and Energy Transition Minister Bahlil Lahadalia. The country is interested in buying "oil from any source" if the prices are competitive, the procurement process is efficient, and the purchases comply with regulations, Lahadalia stated on Monday.
The minister also confirmed that Indonesia has already bought crude oil from the United States and expressed openness to imports from any country offering competitive prices while adhering to regulations. Meanwhile, crude oil prices have risen due to heightened supply concerns following attacks on Saudi Arabia. Brent crude, for instance, climbed nearly US$2 a barrel to $106.65, its highest level since September 15, marking a rally that has kept prices above $100 since early September.
Written by urgent.news from The Jakarta Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
