Govt seeks to decrease oil production to stabilise prices


Dateline 2018-12-04, The Star:

Malaysia will seek to decrease oil production in order to stabilise global oil prices, says Datuk Seri Mohamed Azmin Ali (pic).

“Even though we are not a member of Organisation of the Petroleum Exporting Countries (Opec), it needs the support of small producers like Malaysia to help stabilise the price of petroleum,” the Economic Affairs Minis­ter said.

Malaysia will take part in the Opec discussion in Vienna today.

Member and non-member countries are set to reach an accord over possible output cuts to address falling crude oil prices.

At present, Brent crude oil prices stand at US$62.34 (RM260) per barrel, compared to US$70 (RM292) a barrel when Budget 2019 was tabled on Nov 2.

…

 

This entry was posted on Friday, January 11th, 2019 at 6:31 am and is filed under Malaysian election, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply

Fill in your details below or click an icon to log in:

Gravatar
WordPress.com Logo

You are commenting using your WordPress.com account. ( Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. ( Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. ( Log Out /  Change )

Cancel

Connecting to %s

%d bloggers like this: