KUALA LUMPUR, July 8 — The government will continue to ensure secure and sufficient petroleum supplies from July to December this year, said the Economy Ministry.
The country's oil and fuel supplies remained stable and sufficient to meet domestic demand as of June 2026, following the government's proactive measures implemented in phases since disruptions began in the Strait of Hormuz on February 28.
"Brent crude oil prices, which peaked at US$144.50 per barrel in early April 2026, declined to US$99.29 per barrel between June 1 and 5, 2026, reflecting increasingly positive market sentiment following progress in peace negotiations.
"The government is, however, not taking the situation lightly, as physical supply constraints and declining global inventories persist," it said in a written reply on the Dewan Rakyat website yesterday.
The ministry was responding to Larut MP Datuk Seri Hamzah Zainudin's query on the current status of Malaysia's oil and fuel supply security from July to December, including projections of national petroleum stocks and the government's mitigation measures in response to global geopolitical conflicts.
It added that supply security is being ensured via a combination of three key approaches: diversifying import sources, optimising domestic fuel production through biodiesel, and implementing long-term supply agreements.
"The government has implemented several measures to safeguard oil supply security, including diversifying petroleum supply sources, optimising domestic fuel supply through biodiesel, preventing leakages through enforcement, and carrying out data-driven monitoring," said the ministry.
