PETALING JAYA: With supply continuing to exceed demand, it is hard to see where global crude oil will find its bottom. And for that matter, when the pressure on the ringgit will abate.
Global oil prices rebounded yesterday after hitting their 11-year lows on Monday. But the Malaysian currency remains under pressure due to concerns over the impact of persistently weak oil prices on the country’s economy, as well as the risk of a further devaluation of the yuan.
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