Crude Oil Supplies For Industrial Production Remain Stable

KUALA LUMPUR, July 7 (Bernama) -- Crude oil supplies for industrial production, including resin manufacturing, remain stable, and industries are also adjusting their operations to cope with rising costs, the Ministry of Economy said.

The ministry said it will continue to monitor developments in the global supply crisis to ensure that supply and prices do not disrupt downstream industrial operations.

"Nevertheless, the country's overall manufacturing sector remains resilient, supported by domestic demand and the government's proactive policy measures," it said in a written reply published on the Dewan Rakyat website on Tuesday.

The ministry was responding to a question from Datuk Ahmad Amzad Mohamed (PN–Kuala Terengganu) on the estimated economic losses and decline in production capacity among the country's downstream industries resulting from disruptions to global plastic raw material supplies in the first half of 2026, as well as the government's mitigation plan to reduce dependence on unstable external supply chains.

It also outlined the government's mitigation plan aimed at reducing reliance on unstable external supply chains. The ministry said the government, through the Ministry of Investment, Trade and Industry (MITI) and relevant agencies, has implemented and continues to implement initiatives such as diversifying sources of supply and trading partners, strengthening the domestic ecosystem and local value chains.

These initiatives include driving innovation and the use of alternative materials, as well as digitalisation and supply chain management.

-- BERNAMA