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Parliament: Singapore will benefit from lower oil prices

Monday, January 19, 2015 - 14:01
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The Singapore economy will benefit from lower oil prices since it is a net importer of oil, said Minister for Trade and Industry Lim Hng Kiang in Parliament on Monday.

SINGAPORE

The Singapore economy will benefit from lower oil prices since it is a net importer of oil, said Minister for Trade and Industry Lim Hng Kiang in Parliament on Monday.

Although the petrochemical sector will benefit overall due to cheaper raw materials, its net gain will be limited because the prices of petrochemical products have also fallen in tandem with crude oil prices, he added.

See more at: http://www.straitstimes.com/news/singapore/more-singapore-stories/story/paCopyrliament-singapore-will-benefit-lower-oil-prices-20150