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Malaysia will stick to the agreement OPEC+

In the framework of agreements on OPEC+ Malaysia will produce oil for 20 thousand barrels per day lower compared to October 2016. This publication reports the New Straits Times, with reference to the Prime Minister of Malaysia Abdul Rahman Dahlan.

29.May.17 1:49 PM
By Christina Orlina


Malaysia will stick to the agreement OPEC+
"The meeting (OPEC countries and oil producers outside the cartel) where it was observed and part of Malaysia, concluded with the agreement of countries not included in OPEC, after the decision of OPEC to continue production cuts for a period of nine months... on behalf of Malaysia and after discussion with Petronas, I promised to cut production by 20 thousand barrels per day,"- said the Malaysian Prime Minister, who also noted that the agreement OPEC+ in the long term will have a positive impact on the growth of the economy.

May 25, OPEC decided to extend the former Vienna agreement to reduce oil production for another nine months, although one country Iran attitude rather indirectly. Iran would continue to raise its oil production. In the next five years, the country wants to increase production by 20% up to 5 million barrels per day.

According to the agreement signed at the end of 2016, OPEC countries agree to cut total production by 1.2 million barrels per day compared to October 2016. 11 not included in the cartel States collectively removed from the market 558 thousand barrels per day, including Russia 300 thousand barrels.

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