PETALING JAYA: Analysts are projecting a better outlook for the oil and gas industry, given that the stabilising crude oil prices above US$60 per barrel, stronger crude demand leading to larger inventory drawdown, as well as sustained disciplined production cuts by Opec and non-Opec members throughout 2018 and beyond.
According to Kenanga Research, the recent oil price retrenchment from US$70 per barrel to US$62 per barrel was not surprising due to the strengthening of US dollar and rising US output.
