Kenanga stays ‘neutral’ on Oil & Gas with positive bias


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.

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