SUBSCRIBERS

Falling oil prices could be a curse for KL

Being net importers, rest of Asian economies expected to gain from low prices

Published Mon, Oct 27, 2014 · 09:50 PM

Kuala Lumpur

WHILE falling oil prices are a boon for Asian economies, Malaysia is the exception, being the only net oil exporter in a sea of importers.

Global oil prices have collapsed with the yardstick Brent crude falling to about US$85 from a peak of US$121 early this year, meaning that global oil prices are now at 2010 levels. The main reason for the decline is well documented - there is simply more supply than demand.