Oil Price Rise Overshadows State Budget

The government is beginning to realise the potential pressure from high oil prices on the State Budget (APBN) 2018.


| Elnur Amikishiyev | 123rf.com

World oil prices are predicted to continue rising to US$ 100 per barrel next year. Therefore, the government is wary of the potential oil price pressure on the 2018 State Budget (APBN). The impact could also disrupt the national economy. 

The Brent oil price rose to US$ 77 per barrel on 9 May, while the WTI oil price hit US$ 71 per barrel, the highest since 2014. When President Barack Obama’s administration implemented sanctions in 2012, Iranian oil output dropped 1.5 million barrels per day.

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