KUALA LUMPUR, Aug 26 (NNN-Bernama) — Malaysia remains steadfast in its commitment to support the\u00a0Organisation of the Petroleum Exporting Countries and its allies (OPEC+) in the proactive efforts\u00a0to maintain the stability of the global oil market amid prevailing uncertainties and volatility.<\/p>\n\n\n\n
Minister in the Prime Minister\u2019s Department (Economy) Mustapa Mohamed said the global oil market remained volatile amidst the post-pandemic rebound, elevated inflationary pressure, the worrying possibility of food shortages, geopolitical challenges, as well as climate change-driven weather-related events in key economies.<\/p>\n\n\n\n
\u201cThrough the Declaration of Cooperation (DoC) signed on Dec 10, 2016, OPEC+ has a robust mechanism for dealing with market challenges, including an oil production adjustment system that has proven effective in the past,\u201d he said in a statement Friday.<\/p>\n\n\n\n
He noted that since the DoC was introduced in 2016, OPEC+ member countries, including Malaysia, have been working closely together, leading to the stability of the global oil market.<\/p>\n\n\n\n
\u201cGiven the imminent vagaries in energy markets that we will likely have to contend with, Malaysia believes that this close collaboration should continue,\u201d said Mustapa.<\/p>\n\n\n\n
At the time of writing, Brent crude stood at US$100.10 per barrel. <\/p>\n\n\n\n
— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
KUALA LUMPUR, Aug 26 (NNN-Bernama) — Malaysia remains steadfast in its commitment to support the\u00a0Organisation of the Petroleum Exporting Countries and its allies (OPEC+) in the proactive efforts\u00a0to maintain the stability of the global oil market amid prevailing uncertainties and volatility. Minister in the Prime Minister\u2019s Department (Economy) Mustapa Mohamed said the global oil market […]<\/p>\n","protected":false},"author":30,"featured_media":52834,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,288,300,318],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/189427"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=189427"}],"version-history":[{"count":1,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/189427\/revisions"}],"predecessor-version":[{"id":189428,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/189427\/revisions\/189428"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/52834"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=189427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=189427"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=189427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}