Oil and gas still subject to volatility, players ‘tread cautiously’

Major event: Wan Zulkiflee having a light moment with International Trade and Industry Minister Darell Leiking at the 4th Malaysia Oil and Gas Services Exhibition and Conference at the KL Convention Centre.

PETALING JAYA: Despite the air of optimism sweeping over the oil and gas (O&G) industry amid rising oil prices, national energy company Petroliam Nasional Bhd (Petronas) president and group CEO Tan Sri Wan Zulkiflee Wan Ariffin believes that all players should still “tread cautiously”.

Brent crude yesterday breached US$81 per barrel, its highest since 2014, due to the tightening of the oil market and the reluctance of the Organisation of the Petroleum Exporting Countries (Opec) leaders to immediately boost production.