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Wednesday, 21 December 2016

Petronas will be making a voluntary adjustment to cut Malaysia's crude oil production up to 20,000 barrels per day (bpd) beginning January 2017.

Petronas said the move was made following the pact made in Vienna, Austria on Dec 10 between OPEC and non-OPEC producers.
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Multi Management and Future Solutions Malaysia: National oil organization, Petroliam Nasional Bhd (Petronas) will make a deliberate change in accordance with cut Malaysia's raw petroleum creation up to 20,000 barrels for each day (bpd) starting January 2017. 

In an announcement today, Petronas said the move was made after the settlement made in Vienna, Austria on Dec 10 amongst OPEC and non-OPEC makers. 

"This intentional change, mulling over winning economic situations and prospects, is required to include up to 20,000 barrels for every day of raw petroleum from the nation's 2016 normal generation." 

The oil organization's present raw petroleum generation remains at 787,000 barrels for every day, barring condensate and gas yields. 

The announcement was in light of a declaration made by Minister in the Prime Minister's Department Datuk Abdul Rahman Dahlan on Monday that Malaysia was one of the non-Opec nations which had likewise consented to the choice to cut worldwide yield by 558,000 bpd for six month starting Jan 1. 

Opec settled on the choice to cut yield by 1.2 million from 2017.

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