TEMPO.CO, Jakarta - Indonesia's Energy and Mineral Resources (ESDM) Ministry said the country remains in "survival mode" as it navigates volatile global oil prices driven by geopolitical tensions.
"Our strategy remains the same. We are still in survival mode, meaning we are always prepared to anticipate rapid changes and market volatility," ESDM Ministry spokesperson Dwi Anggia told ANTARA on Monday, July 27.
According to Anggia, Indonesia has maintained this approach since the global energy crisis erupted in February 2026.
While the government hopes global conditions will improve soon, he said there is no certainty that ongoing geopolitical conflicts will end in the near term.
Diversifying Energy Imports
To strengthen the country's energy security, Anggia said the government has diversified its sources of imported crude oil, refined fuel products, and liquefied petroleum gas (LPG).
"The government is also continuing to mitigate risks and strengthen energy stockpiles to ensure a stable supply for the public," he said.
Despite the risks posed by higher oil prices, Anggia noted that Indonesia also stands to benefit as an oil-producing country.
Indonesia currently produces around 600,000 barrels of crude oil per day. Rising international crude prices would boost state revenue through non-tax state income (PNBP) generated from crude oil sales, he added.
Oil Prices Ease After Recent Spike
Global oil prices surged last week amid escalating tensions in the Middle East. On Thursday, July 23, U.S. benchmark West Texas Intermediate (WTI) crude jumped more than 6 percent to above US$92 per barrel, while Brent crude climbed more than 6 percent to exceed US$100 per barrel, its highest level since early June 2026.
However, prices have since retreated. Citing Anadolu, ANTARA reported on Monday that there were no new attacks by the United States or Iran for a second consecutive night, while Pakistan and Qatar stepped up mediation efforts aimed at de-escalating tensions between Washington and Tehran.
According to the U.S. Central Command (CENTCOM), the pause followed nearly two weeks of U.S. strikes targeting Iran's military infrastructure, coastal surveillance systems, missile and drone facilities, naval assets, and logistics centers.
Government sources in Pakistan told Anadolu that Islamabad and Doha have intensified diplomatic communications between the United States and Iran.
As geopolitical tensions showed signs of easing, Brent crude fell back to around US$90 per barrel, while WTI declined to approximately US$84 per barrel.
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