Malaysia Maintains Oil Production Quota For 2026 - Akmal Nasrullah
KUALA LUMPUR, June 9 (Bernama) -- Malaysia will maintain its petroleum production quota under the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) for 2026, as previously agreed, Economy Minister Datuk Seri Akmal Nasrullah Ahmad Nasir said.
He said the decision provides relief for the country to proceed with its planned oil and gas activities despite the ongoing global supply crisis.
“We have commitments under OPEC+, and it has been agreed that the quota for 2026 will remain according to what had been decided previously,” he told reporters after participating as a panellist at Invest Malaysia today.
Akmal Nasrullah said the decision was reached during the OPEC+ meeting held in Vienna, Austria, last Sunday.
He said that looking ahead to 2027, OPEC+ is conducting a study under the Maximum Sustainable Capacity (MSC) initiative to review member countries' quotas based on a more comprehensive and specific assessment of their respective production capabilities.
He added that the government has agreed to cooperate with the study to ensure Malaysia maintains a balanced quota that is aligned with its production capacity, noting that a suitable quota for Malaysia in 2027 remains under review as the country's petroleum output fluctuates according to operational conditions.
“That is why a thorough study is being carried out to ensure that when the 2027 quota is determined, it will adequately reflect the level of production we are capable of achieving. The figure varies from year to year depending on our production levels.
“There may be shutdowns of plants or offshore platforms for maintenance and servicing work. Therefore, the quota to be set for 2027 must reflect the actual production capacity of our petroleum sector,” he added.
-- BERNAMA