Malaysia to cut crude oil output by 136,000 bpd

"In line with the efforts undertaken by Opec and non-Opec countries, Malaysia reiterates our strong commitment to preserve the stability of the global oil market, despite being a small producer and net importer of oil," minister Datuk Seri Mustapa Mohamed told Reuters.

KUALA LUMPUR: Malaysia has agreed to cut its crude oil production by 136,000 bpd for May and June despite being a small producer and net importer of oil, its minister in charge of economic affairs said on Wednesday.

It said it welcomes the supply reduction agreement between Opec members and allies, as it would stabilise the global oil market and ensure supply security for consumers.