KUALA LUMPUR: The prolonged oil price environment could see Petronas reducing its capital expenditure, says Affin Hwang Capital research, which has an underweight stance on the Malaysian oil and gas sector.
"We expect Brent oil prices to trade in the range of US$45-50/bbl in 2H20 (averaging US$45/bbl for full-year 2020 on the assumption that oil trades at US$30/bbl in 2Q20) and US$50-55/bbl in 2021," it said.
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