Low oil prices may be a double-edged sword for Indonesia after Saudi Arabia started a price war with Russia by slashing its selling prices and pledging to boost supply amid falling demand due to the coronavirus outbreak. Finance Minister Sri Mulyani Indrawati said on Monday that the current price war amid the weakening economy due to the outbreak may benefit Indonesia’s imports as a result of lower oil prices. Brent crude futures fell by the most since 1991 on Monday, by US$14.25 or 31.5 percent to $31.02 per barrel.
