Local analyst, MIDF Sisma Securities Sdn Bhd economist Azrul Azwar (in an interview with the Business Times), said the rising price of global petrol was an opportunity for the country as many oil importers to source out alternative oil suppliers.

Azrul believes Petronas can ride on the waves by increasing its output for an indefinite number of months and expand its share in the international market.

This optimism, however, is tempered by predictions from international analysts who feel that if it does go ahead to raise production indiscriminately, it risks facing long-term repercussions.

Malaysia currently produces about 600,00 barrels of oil and 5 billion cubic feet of gas daily.