OPEC AND OIL PRICES

Malaysia Raises Production Ceiling

Malaysia has raised its production ceiling effective 1 July to 468,000 b/d from 421,000 b/d in May and June, according to the President of the national oil company Petronas, Mr. Abdullah Salleh. Mr. Salleh said the decision was taken in the light of the increase in OPEC's third quarter ceiling to 16.6mn b/d from 15.8mn b/d in the second quarter. Last year Malaysia cut its output from 510,000 b/d to 459,000 b/d in support of...