Malaysia Agrees To Extend Oil Production Adjustments Until Dec 31, 2018

Malaysia has agreed to extend oil production adjustments until Dec 31, 2018, said Minister in the Prime Ministers Department, Economic Planning Unit , Datuk Seri Abdul Rahman Dahlan. He said the agreement was made in line with the decision to further extend the “Declaration of Cooperation ” for another nine months during the 3rd Organisation of the Petroleum Exporting Countries and Non-OPEC Ministerial Meeting held in Vienna, Austria on Nov 30. “The production adjustments extension is needed to reduce oil inventory to a more reasonable level, which will provide stability and sustainability in terms of price, as well as demand and supply.

Original published: 2017-12-02 06:55:21 Read the full Vienna News here

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