Indonesia eyes Russian crude as Middle East tensions deepen import gap, subsidy strain

[JAKARTA] Indonesia is weighing crude imports from Russia as it seeks cheaper barrels, a more diversified supply and relief for its subsidy-heavy energy system amid tighter global oil markets.

The country’s domestic production of about 600,000 barrels a day still falls far below its daily demand of more than 1.6 million barrels.

Despite its abundant reserves of coal, gas, nickel and palm oil, it remains heavily reliant on imported crude and fuel products, with about a quarter of its crude supply coming from the Middle East.