Oil output cut: M’sia to gain in form of lower depletion rate


Dateline 2016-12-19, NST:

NON-Organisation of the Petroleum Exporting Countries (Opec) producers, including Malaysia, will stand to gain from the recent agreement by the cartel to cut production. “Malaysia’s oil and gas (O&G) sector, including the supporting industries, will benefit from higher oil prices even with a lower production volume. The net impact depends on the relative volume or prices,” Sunway University Business School economics professor Dr Yeah Kim Leng told Business Times yesterday. Malaysia and 10 other non-Opec producers agreed on Saturday to cut their oil output with the aim of ending the crude glut and reversing the fall in income, following the Opec agreement.

 

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