He said that although many people assume that oil producers like Malaysia would reap large profits with oil prices rising, the situation is more complex in reality. According to him, when oil prices rise, there are usually three main effects on the nation’s economy. “When oil prices increase, business costs rise. On the third effect, Zafrul said the impact of rising oil prices is not the same for every country. “About 80% of countries in the world are oil importers, so for most countries, high oil prices actually put pressure on their economies,” he said.

Source: The Edge Markets March 13, 2026 10:56 UTC