Malaysia Reaffirms Support For Global Energy Stability, Commits To 2026 Production Target
KUALA LUMPUR, June 8 (Bernama) -- Malaysia has reaffirmed its commitment to global energy stability and strategic cooperation at the 41st OPEC and Non-OPEC Ministerial Meeting (ONOMM), as oil-producing nations continue to navigate geopolitical uncertainty, supply risks and a changing global energy landscape.
Malaysia also reaffirmed its continued alignment with the Charter of Cooperation (CoC), which builds on the Declaration of Cooperation (DoC) established in 2016, the Economy Ministry said in a statement Monday.
The Malaysian delegation was led by Economy Minister Akmal Nasrullah Mohd Nasir, who participated virtually in the meeting convened by the OPEC Secretariat in Vienna, Austria.
Economy Ministry Secretary-General Nor Azmie Diron, Petronas Senior Vice President of Corporate Strategy Marina Md Taib, the ministry’s senior officials and Malaysian embassy officials in Austria were also present.
“While the DoC provided an effective platform for coordinated market stabilisation, the CoC offers a broader and more structured framework for long-term cooperation, including on technology, emissions reduction and the global energy transition,” the ministry said.
As a partner within the OPEC+ framework, Malaysia remains supportive of collective efforts to promote market stability and energy security.
“As both an oil producer and a net energy importer, Malaysia views market stability as essential not only for global confidence, but also for domestic production, investment planning and long-term energy security.”
Moving forward, Malaysia will continue to work closely with member countries to deepen cooperation in energy, trade and investment, the statement said.
“Malaysia also remains committed to complying with its assigned production target for 2026, while continuing constructive engagement to ensure that any future baseline revisions under the MSC framework remain fair, realistic and reflective of participating countries’ production outlook beyond 2026.”
The hybrid ministerial meeting brought together OPEC and non-OPEC participating countries to deliberate on key matters affecting global oil market stability and long-term supply security.
A key focus of the meeting was the assessment of maximum sustainable capacity (MSC) among participating countries.
Malaysia views the MSC framework as an important mechanism to strengthen market transparency, improve production baseline assessments and support more predictable supply planning in the years ahead.
-- BERNAMA
