Sector outlook: Crude prices have rallied 18 on the extension of Opec and non-Opec members’ production cuts, and the market could refocus on the revival of US shale gas production.
PETALING JAYA: Despite the recent rally in oil prices which approached the US$67 per barrel (bbl) level, Kenanga Research has mantained its “neutral” view on the oil and gas (O&G) sector with a positive bias where earnings still matter ultimately.
The research firm said that it is conservative on its oil forecast as crude prices have rallied 18% on the extension of Opec and non-Opec members’ production cuts, and the market could refocus on the revival of US shale gas production.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
