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Falling oil prices could be a curse for KL

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

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.

For Asia as a whole, this is a windfall not just from cheaper oil imports but...

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