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Article: Rising oil prices and our economy
- Article from:
- New Straits Times
- Article date:
- April 9, 2002
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New Straits Times
04-09-2002
Rising oil prices and our economy
Edition: 2*
BEING a net oil exporter, any rise in oil prices will be a shot in the arm for Malaysia's coffers alongside other top forex earners: the manufacturing and tourism sectors, LNG and CPO, said MIDF Sisma Securities Sdn Bhd.
The question is how long would the latest spike in oil prices last, since only elevated prices for a sustained duration would bring any impact.
Would prices hit the all-time highs seen in 2000 as reflected by the contribution of crude oil to national accounts during that year?
"Locally, higher global oil prices may not have a direct impact on Malaysia's consumers and economic sectors, thanks to the ...