Malaysia’s fuel supplies safe, but high oil prices could linger for at least two years, says PM’s economic adviser
PUTRAJAYA, Sept 6 — Malaysia’s fuel supply remains stable despite lower global supply levels, with the gover...
Malaysia's fuel supply remains stable despite lower global levels, according to Prime Minister's Economic Adviser Nurhisham Hussein. The government is confident it can secure sufficient supplies until the end of the year, according to Hussein. However, geopolitical tensions and disruptions to shipping routes could lead to higher oil prices for at least two years.
Malaysia is a major importer of crude oil but a net exporter of liquefied natural gas (LNG). Global oil supplies have been severely affected by the West Asia conflict since February, with no end in sight. Despite the Suez Canal and Bab-el-Mandeb remaining open, the depletion of reserves could add to uncertainty in the global energy market.
China's rapid adoption of electric vehicles is helping to moderate global oil demand. Meanwhile, the global food outlook indicates a strong El Niño that could persist into February 2027, impacting Southeast Asia, South Asia, Central and Southern Africa, the Caribbean, and Latin America. Global rice supplies are expected to fall 1.6%, with wheat production declining by 3.8%.
However, soy production is expected to continue at high levels. Overall, Malaysia's food supply situation remains adequate, with surplus supply exceeding demand by about 10% in most categories.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
