Malaysia: OPEC+ Decision to Cut Output Made to Address Market Uncertainties

A 3D printed oil pump jack is seen in front of displayed Opec logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration
A 3D printed oil pump jack is seen in front of displayed Opec logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration
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Malaysia: OPEC+ Decision to Cut Output Made to Address Market Uncertainties

A 3D printed oil pump jack is seen in front of displayed Opec logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration
A 3D printed oil pump jack is seen in front of displayed Opec logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration

Malaysia has said a decision by OPEC+ member states to cut oil production was unanimous, and made after taking into account the need to address market uncertainties.

Malaysia joins other OPEC+ countries this week in backing a steep cut to the group's output target.

"OPEC+ countries collectively took into consideration factors that include market fundamentals, particularly to address uncertainties in the global oil supply and demand situation," Malaysia's economy minister Mustapa Mohamed said in a statement issued on Tuesday.

"In view of the prospect of prolonged uncertainties, Malaysia will continue our close collaboration with OPEC+ to ensure the stability of the global oil market."



Shipping Company Maersk Temporarily Pauses Haifa Port Calls

Israeli Air Force AH-64 Apache attack helicopters fly over Israel's northern city of Haifa on June 19, 2025. (Photo by Jalaa MAREY / AFP)
Israeli Air Force AH-64 Apache attack helicopters fly over Israel's northern city of Haifa on June 19, 2025. (Photo by Jalaa MAREY / AFP)
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Shipping Company Maersk Temporarily Pauses Haifa Port Calls

Israeli Air Force AH-64 Apache attack helicopters fly over Israel's northern city of Haifa on June 19, 2025. (Photo by Jalaa MAREY / AFP)
Israeli Air Force AH-64 Apache attack helicopters fly over Israel's northern city of Haifa on June 19, 2025. (Photo by Jalaa MAREY / AFP)

Container shipping company Maersk said on Friday it had temporarily paused vessel calls at Israel's Haifa port amid regional tensions.

The Danish company said it did not experience any further disruptions to its scheduled operations in the region.

Israel has been hitting Iran from the air since last Friday in what it describes as an effort to prevent Tehran from developing nuclear weapons.

Iran has denied plans to develop such weapons and has retaliated by launching counterstrikes on Israel.

On Thursday, Iran's Revolutionary Guards said it had launched combined missile and drone attacks at military and industrial sites linked to Israel's defense industry in Haifa and Tel Aviv.