PARLIAMENT | Former prime minister Najib Abdul Razak has advised Putrajaya not to base Budget 2019 on crude oil prices.

"I wish to remind you that oil prices are too volatile. No one can expect that it will remain at US$70 (per barrel), or whether it will go down. This is all subject to geopolitical factors, which no one can predict.

"If global oil prices fall, we will be trapped," Najib told the Dewan Rakyat today.

Prime Minister Dr Mahathir Mohamad last week said that next year's national budget would be based on an average crude oil price of U$70 per barrel.

Najib has had experience with how crude oil price can affect the budget.

When Budget 2016 was tabled in Oct 2015, it was at US$48 per barrel.

However, three months later, prices had fallen to US$30 per barrel, leading Najib to recalibrate the budget in Jan 2016.

Budget 2019 will be tabled by Finance Minister Lim Guan Eng on Nov 2.

Meanwhile, Najib also questioned the volatility in crude palm oil exports.

He said in January to April this year, crude palm oil exports had risen to above the exports during the same period in 2017.

However, he questioned why exports had fallen for Malaysia in May, while exports for Indonesia continued to rise.

This was a jab at the Pakatan Harapan government, which took over federal power on May 9.