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O&G industry to do better due to stable crude oil prices, say analysts


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.

Oil & Gas , Analyst reports , Petronas , capex

   

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