Petronas to cut daily output by up to 20,000 barrels per day

Petronas to cut daily output by up to 20,000 barrels per day

The company will make a voluntary adjustment to Malaysia's crude oil production in line with a recent agreement between Opec and non-Opec producers.

petronas
KUALA LUMPUR: Malaysia’s state oil firm Petroliam Nasional Bhd said it will lower its crude oil output by up to 20,000 barrels per day in 2017, in line with a recent agreement between Opec (Organisation of the Petroleum Exporting Countries) and non-Opec producers to reduce global supply.

Petronas, as the company is known, is the sole crude oil producer in Malaysia.

“Petronas will make a voluntary adjustment to Malaysia’s crude oil production starting from January of 2017,” the company said in a statement today.

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