Malaysia has said a decision by OPEC+ member states to cut oil production was unanimous, and made after taking into account the need to address market uncertainties.
Malaysia joins other OPEC+ countries this week in backing a steep cut to the group’s output target, after the White House accused Saudi Arabia of coercing some other nations into supporting the move.
“OPEC+ countries collectively took into consideration factors that include market fundamentals, particularly to address uncertainties in the global oil supply and demand situation,” Malaysia’s economy minister Mustapa Mohamed said in a statement issued on Tuesday.
“In view of the prospect of prolonged uncertainties, Malaysia will continue our close collaboration with OPEC+ to ensure the stability of the global oil market.”
