Malaysia’s Petronas says will support extension of oil output cuts


Dateline 2017-05-08, Nasdaq:

Malaysian state-owned oil firm Petroliam Nasional Berhad [PETR.UL] will support any extension of oil output cuts by OPEC and non-OPEC producers, its chief executive said on Monday. Petronas, as the company is known, announced last year that it would cut its oil output by up to 20,000 barrels per day (bpd) as part of Malaysia’s commitment to reduce supply following an agreement between the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers. “If there is extension of the arrangement, of course we are committed to continue with the same production cut,” Petronas Chief Executive Officer Wan Zulkiflee Wan Ariffin told reporters at the Asia Oil & Gas Conference in Kuala Lumpur.

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