Singapore will benefit from cheaper oil: Analysts

But prospect of falling prices could prompt MAS to let Singdollar weaken –

ST Oil Prices

Published on Jan 13, 2015 6:11 AM

By Melissa Tan

Singapore will be a big winner from cheaper oil although the central bank may have to let the currency weaken if inflation sinks too low, analysts said yesterday.

Oxford Economics said in a recent report that the economy here would likely grow at a slightly faster pace while the trade balance would improve significantly if crude oil falls to US$40 (S$53) a barrel.

The Philippines and Taiwan would also be likely beneficiaries of such a drop, it added.

The British-based group forecast that Singapore’s gross domestic product (GDP) would grow around 3.7 per cent this year and next year if oil prices drop to US$40 a barrel.

See more at: http://www.straitstimes.com/news/business/economy/story/singapore-will-benefit-cheaper-oil-analysts-20150113#sthash.s65zU5Ls.dpuf

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About artidj

I started working as a field engineer in Oil & Gas industry back in 1996. I do this news clipping of the industry and the geography I am interested in, mainly for my own information. I'm glad you find it useful.
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