Indonesia: World Oil Price Developments Worrying

The soaring of the international oil price to US$75 (US$1=RM3.61) per barrel is worrying because it can disturb the national economy, Antara news agency reported Tuesday, quoting President Susilo Bambang Yudhoyono as saying.

“Developments in the world oil price are causing worry because the price has reached US$70 to US$75 per barrel and there is no indication it will go down.

“It is even soaring to go higher. It will have an adverse effect on the global and national economies,” the President said in his speech in the opening of the Private Banks Association (Perbanas) congress here.

Bernama