Rising US Venezuela tensions have drawn global attention as markets assess potential disruptions to energy supply and pricing. However, Indonesian authorities say the situation has not affected the country’s oil imports so far. While geopolitical developments in Venezuela raise concerns about global energy stability, Indonesia continues to monitor oil prices closely and prepare precautionary measures.
At the same time, business groups warn that prolonged instability could increase energy costs and pressure production expenses. Together, these views reflect a cautious but controlled outlook on how global geopolitical energy risks may affect Indonesia.
Indonesia Oil Imports Remain Stable Amid US Venezuela Tensions
The Indonesian government confirmed that oil import prices remain stable despite escalating US Venezuela tensions. Coordinating Minister for Economic Affairs Airlangga Hartarto said the government continues to track developments closely while ensuring energy security.
According to Airlangga, short-term market movements show no alarming changes that would immediately affect Indonesia’s import costs. He emphasized that current price levels remain manageable and have not triggered market stress. This position provides reassurance for domestic fuel supply planning and supports broader economic stability as global markets digest political developments in Venezuela.
Government Monitors Global Oil Prices for Potential Risks
In addition, the government continues to monitor global oil prices to anticipate possible shifts. Airlangga stressed that Venezuela’s role as an oil-producing country means political developments could influence global pricing. However, he noted that recent data show limited volatility. “We are monitoring oil prices. Over the past one or two days, there have been no changes and no significant volatility,” Airlangga said.
He added that global oil prices remain relatively low at around US$63 per barrel. Therefore, authorities remain alert while preparing response strategies, should conditions change.
Energy Market Volatility Raises Concerns for Manufacturers
Meanwhile, business leaders remain cautious about broader energy market volatility. The Indonesian Chamber of Commerce and Industry (Kadin) has warned that geopolitical tensions could lead to higher energy and logistics costs. Kadin Vice Chairman for Industry Saleh Husin explained that disruptions in global energy markets often result in higher transportation and distribution costs.
“This disruption has the potential to affect transportation and distribution costs, which in turn will impact manufacturing input costs,” Saleh said. As a result, export-oriented industries and energy-intensive manufacturers must carefully manage costs and adjust strategies if volatility persists.
US Venezuela Tensions Have Limited Impact on Global Supply
Despite these concerns, the direct impact of US-Venezuela tensions on global oil supply remains limited. Venezuela’s oil production has declined sharply over the past two decades and now accounts for less than one percent of global supply.
Most of its exports flow to China rather than broader international markets. Furthermore, the global oil market currently faces a supply surplus due to increased production from several countries amid weakening demand. These conditions help cushion short-term shocks, even as political risks continue to influence investor sentiment.
Indonesia Energy Assets Abroad Remain Unaffected
At the corporate level, Indonesia’s state-owned energy interests in Venezuela also remain secure. PT Pertamina Internasional Eksplorasi dan Produksi confirmed that its assets have not suffered any operational impact following the US action. “In relation to the latest developments, based on our monitoring so far, there has been no impact on M&P’s assets or staff in Venezuela,” said PIEP Manager of Relations Dhaneswari Retnowardhani. As a precaution, the company continues to coordinate closely with the Indonesian Embassy in Caracas to ensure staff safety and asset protection.
Overall, Indonesia faces manageable risks from current geopolitical developments. While the US Venezuela tensions warrant close monitoring, stable oil prices, limited supply exposure, and ongoing government oversight help maintain confidence. Moving forward, sustained vigilance will remain essential as global energy dynamics continue to evolve.
Source: ekonomi.bisnis.com, antaranews.com
Image: Gaby Oraa / Reuters
