The government will continue to closely monitor developments in the Iran-US conflict to safeguard Malaysia’s oil supply and minimise economic impact.
KUALA KANGSAR: The government will continue to closely monitor developments in the conflict between Iran and the United States (US) to safeguard the nation’s oil supply and minimise any impact on the economy and the well-being of the people.
Political Secretary to the Finance Minister, Muhammad Kamil Abdul Munim, said geopolitical tensions involving major oil-producing countries have the potential to disrupt global energy markets, particularly crude oil supply and prices.
“As we know, the immediate impact is on oil supply. However, Alhamdulillah, the government has diversified its sources of supply, and we will continue to closely monitor developments.
“Our priority is to ensure that the country’s oil supply remains secure and that the conflict does not adversely affect Malaysia,” he said.
He told reporters this after attending the Teachers’ and Staff Clubs Empowerment Programme and a contribution presentation ceremony for schools in the Padang Rengas parliamentary constituency at SMK Tun Perak here.
According to international media reports, global oil prices rose today after renewed hostilities between the US and Iran in the Gulf region disrupted oil export flows through the Strait of Hormuz, fuelling fresh concerns over global energy supplies.
