Indonesia in 'Survival Mode' Amid Global Oil Price Volatility

Indonesia's energy minister has confirmed that the country remains in 'survival mode' due to global oil price volatility, which is driven by geopolitical tensions. Dwi Anggia, spokesperson for the Energy and Mineral Resources Ministry, stated on July 27 that Indonesia has maintained this approach since the global energy crisis erupted in February 2026.

The government hopes that global conditions will improve soon, but there is no certainty that ongoing conflicts will end in the near term. To strengthen energy security, Anggia said that the government has diversified its sources of imported crude oil, refined fuel products, and liquefied petroleum gas (LPG).

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, Anggia added.