Analysis of Indonesian Crude Oil Exports

Abstract

The scarcity of crude oil that occurs due to non-renewable resources and disturbances on the supply side is caused more by the geopolitical conditions of the producing countries. This study aims to determine the effect of production, oil prices, and crude oil exchange rates on the volume of Indonesian crude oil exports from 1991 - 2021 either partially or simultaneously. The type of research used in this research is descriptive research with a quantitative method approach. This study uses secondary data. Secondary data was obtained in the form of periodic data (time series) with a period of 30 years (1991- 2021) with the analytical model used in this study is a multiple linear regression model using the OLS (Ordinary Least
Square) method. The analytical tool used is the SPSS (Statistical Product and Service Solution) program. Sources of data collected in this study came from BPS (Central Bureau of Statistics), BPS Silastic, Bank Indonesia (BI), World Bank, Library Studies (Library Research).The results of the analysis and data obtained from research on the Analysis of Indonesian Crude Oil Exports show that the crude oil production variable has a positive and significant effect on Indonesia's crude oil exports. The crude oil price variable has a negative and insignificant effect on Indonesia's crude oil exports. The exchange rate variable has a negative and significant effect on Indonesia's crude oil exports. This research suggests increasing Indonesia's crude oil production to meet national and international demand and increase Indonesia's crude oil exports so that it can help accelerate economic growth