BMI: Indonesian oil production decline to continue

摘要

Indonesia will see a 17.5% decline in oil production by 2018, with the country's crude volumes falling steadily to 800,000 b/d, according to the most recent Indonesia Oil and Gas Report from analyst BMI. In its report, BMI forecasts that Indonesia will account for 4.32% of Asia-Pacific regional oil demand by 2013, while providing 10.91% of its supply. In third quarter 2008, BMI estimates that the Organization of Petroleum Exporting Countries' basket price averaged $113.60/bbl, down 3.4% from second quarter 2008. BMI forecasts Indonesian real gross domestic product growth at 6.1% for 2008, down from 6.3% in 2007. Consumption is forecast to increase by around 2.5%/year to 2013.