Five ways US$100 oil cuts both ways for Malaysia
Whether the country gains depends on factors such as what it exports and imports and its subsidy exposure
[JOHOR BAHRU] Brent crude’s return to above US$100 a barrel raises a familiar question for Malaysia: Does an energy-exporting economy gain more from higher prices than it loses through subsidies, import costs and pressure on businesses and consumers?
Oil crossed the threshold on Sep 9 as renewed tensions between the US and Iran heightened concerns over supplies through the Strait of Hormuz, while Chinese crude purchases picked up. Brent remained above US$104 during Asian trading on Friday (Sep 18).
Whether Malaysia ultimately gains depends on what it exports and imports, its subsidy exposure and how long prices remain elevated. Here are five things to know.
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