For the Economy Ministry, our focus is to ensure that Malaysia’s plan for the next five years will take place, and we must focus on the execution,” he added. In Nov last year, the Economy Ministry said the government had reduced dependence on petroleum-related revenue to about 16.9%, down from 28% in 2022. Since Maduro’s capture on Saturday, the United States has made several announcements about Venezuela’s oil, which is the world’s largest known crude oil reserves. The following day, Trump announced a deal to import up to US$2bil worth of Venezuelan crude oil. After Trump’s announcement, crude oil prices fell on Wednesday (Jan 7).

Source: The Star January 08, 2026 06:56 UTC