00:00The United Arab Emirates' shock withdrawal from OPEC, the Organization of Petroleum Exporting
00:06Countries, and its wider alliance, OPEC+, has sent tremors through global energy markets.
00:12But what impact does that have on Malaysia?
00:15Samirul Arif Othman, an adjunct professor at University of Technology Petronas,
00:20says the UAE may be looking to ramp up production with mixed consequences for Malaysia.
00:26He says Malaysia is in a unique position, being an exporter of oil and gas on the one hand,
00:31and an importer of crude and refined petroleum products on the other.
00:36Samirul says if UAE increases its oil production, oil prices may drop.
00:42This could benefit Malaysia as imported oil would cost less.
00:46It would also lessen the government's fuel subsidy burden.
00:49But the opposite could also happen.
00:51If UAE's withdrawal causes uncertainty in the market, oil prices could turn volatile.
00:58For Malaysia, the cost of imports and logistics expenses would rise.
01:02And the government would need to allocate more funds to maintain existing fuel subsidies.
01:08So, while Petronas may earn higher revenue and potentially pay the government bigger dividends,
01:14subsidy costs may balloon, and households may see their budgets come under strain.
01:20Samirul says volatile oil prices will complicate Pochajaya's fiscal planning,
01:25subsidy targeting, and inflation management.
01:28It could also drive up fuel costs, affect business margins, cause inflation,
01:33and increase the government's subsidy exposure.
01:36The UAE exited OPEC and OPEC Plus on May 1, citing national interests.
01:42Already producing 4 million barrels a day, Samirul says the Gulf country may be looking to ramp up oil
01:48production even further. He says other countries may follow its lead, which may see global oil
01:54markets become fragmented. Samirul says Malaysia must strengthen its resilience through an adaptive
02:00and forward-looking energy strategy to withstand any shocks.
02:04Natasha Boost, FMT
02:06The Duke of Chowaya's然後onerty J.
02:07The Duke of Chowaya where you can use Yahoo in Twitter.有一種,
02:07uhhh man of course has become a traction between Yahoo and the Duke
02:08in terms of the Akronageาก lens. The Duke of
02:08of Chowaya, the Duke of Chowaya is a big increase in the population, the Duke of Chowaya.
Comments