SINGAPORE – Asia’s oil-reliant economies could take a hit if crude prices remain higher, with potential fallout for Singapore as well in the form of inflation, said analysts on Monday (Sept 16).

They were responding to the surge in oil prices after drone strikes on Saudi Arabian production facilities last weekend, which took out about 5 per cent of the global supply.

Please subscribe or log in to continue reading the full article. Learn more about ST PREMIUM.

Enjoy unlimited access to ST’s best work

  • Exclusive stories and features on multiple devices
  • In-depth analyses and opinion pieces
  • ePaper and award-winning multimedia content