Strong oil price a boon for Malaysia

CGS-CIMB Research said Malaysia was in a “more advantageous” position as a net oil and gas exporter. “Globally, an extended oil price shock represents a windfall for producers and a tax on consumers.

PETALING JAYA: The surge in the global crude oil prices is a boon for Malaysia’s revenue and the ringgit’s performance.

This has also raised interest in local oil and gas stocks, as evidenced by the increase in Bursa Malaysia’s Energy index.