Brunei says it will continue oil production despite global oversupply

BRUNEI, April 22 (Borneo Bulletin/ANN) - 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 said yesterday during a press conference that there is obviously an oversupply situation following a question on whether the recent plunge in Brent Blend crude oil prices have affected Brunei.

The minister added that trading for May cargo will be continued and trading for the June cargo to begin today, noting that the COVID-19 pandemic is affecting demand especially in the US, which will have implications on other benchmarks.