Malaysia Sees Stable Fuel Supplies Amid Geopolitical Tensions

Malaysia's fuel supply remains stable despite lower global supply levels, with the government confident it can secure sufficient supplies through to the end of the year, according to Prime Minister's economic adviser Nurhisham Hussein.

Nurhisham, who heads the Secretariat of the National Economic Action Council (MTEN) Crisis Management Task Force, said global fuel situation has remained fluid. Risks remain skewed towards higher prices due to geopolitical tensions and disruptions to key shipping routes, he added.

Malaysia is a major importer of crude oil but a net exporter of liquefied natural gas (LNG). Global oil supplies have been severely affected due to the West Asia conflict, which erupted in February, with continued attacks between the United States and Iran.