PETALING JAYA: Crude oil prices are expected to remain elevated at between US$77 (RM319) and US$107 (RM443) a barrel until sometime next year amid the shortfall in the supply of the commodity.
The strong price of crude would bode well for the ringgit as Malaysia is a net exporter of the commodity, hence strengthening the local currency and improving the government’s fiscal position albeit the build up of inflationary pressures.
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