Malaysia agrees to oil production adjustments until end 2018

PETALING JAYA: Malaysia has agreed to extend the adjustments to its oil production levels until Dec 31, 2018, as this is needed to reduce oil inventories to a more "reasonable" level, says Datuk Seri Abdul Rahman Dahlan (pix).

"This is in accordance with the decision to further extend the 'Declaration of Cooperation' for another nine months agreed during the third Opec and Non-Opec Ministerial Meeting held in Vienna on Nov 30," said the Minister in the Prime Minister's Department.