The price of crude oil is estimated to stand still at the level of U.S. $ 60-70 per barrel until the end of the year. OPEC cutting oil production will not produce unpredictable results.

According to the former OPEC Governor for Indonesia while Pertamina Commissioner Maizar Rahman, the possibility of large price ICP (Indonesian Crude Price) took a slip to below U.S. $ 60 per barrel.

"Until the end of this year I predicted the price of oil still around U.S. $ 60-70 per barrel. Could it even below," What is said between meetings with Commission VII at the parliament building / DPR, Jakarta, on Monday (27/10/2008).

He explains, in normal circumstances it should be cutting oil production of OPEC members will affect the price of oil. But with the current condition is not normal, then OPEC this step can be futile.

"Now is not normal because the condition affected the financial crisis. So in the market happens to be the release of oil in a large-scale, and this effect to the price. I think OPEC cutting effect," he said.

Oil price movements that do not normally have occurred since mid-2007. Where is the oil price is no longer determined the level of supply and demand but speculation.

Meanwhile, since mid-2008, the most influential factor is the financial condition of the U.S..

"Therefore we wait until the stabilization, so the fundamentals can take effect. But it may happen next year," he said.