Brunei will continue oil production

There are four major benchmarks for crude oil globally – West Texas Intermediate (WTI), Brent Blend, Dubai Crude and Tapis Crude- in which WTI recently announced that the United States’ (US) oil prices fell as low as USD37.63 per barrel. Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah explained on Tuesday during a press conference that there is obviously an oversupply situation following a question on whether the recent Brent Blend crude oil prices have affected Brunei. More details in Wednesday’s Borneo Bulletin.