KUALA LUMPUR (March 11): PETRONAS said the elevated crude oil prices resulting from the US-Iran conflict are expected to produce some mixed outcomes for the company. "Higher crude oil prices may increase revenue from upstream production, but PETRONAS operates across the entire energy value chain. It also said that it operates with an explicit responsibility to support Malaysia’s domestic energy security, reliability and affordability. PETRONAS also pointed out that Malaysia’s domestic crude production has also declined steadily as mature fields naturally deplete. However, today, domestic crude production averages roughly 350,000 barrels per day.

Source: The Edge Markets March 11, 2026 15:02 UTC