Dateline 2019-06-25, Forbes:
It was in 2003 that Malaysian Prime Minister Mahathir Bin Mohamad addressed the eighth edition of the Asia Oil & Gas Conference. Now 16 years later, he was back in front of the oil and gas luminaries at the 20th Asia Oil & Gas Conference (AOGC) that took place in Kuala Lumpur from June 23rd to 25th. “Last time I was here it was at a period when the world witnessed geopolitical uncertainties in the Middle East and the impact of the outbreak of SARS in Asia,” he told the assembled delegates. “Brent crude oil price then was at an average of $28 per barrel.”
The effects of the war for oil
Since the time that Mahathir last opened the conference, the oil price has been on a rollercoaster ride reaching heights of $145 in 2008 and $125 four years later. But it has not all been peaks, with the price slumping to $32 per barrel within six months of its all-time high in 2008, with further troughs experienced in 2014 and 2016.