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KUALA LUMPUR: 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, after the White House accused Saudi Arabia of coercing some other nations into supporting the move.

“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.

OPEC cuts 2022, 2023 oil demand growth view as economy slows

“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.”

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