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PETALING JAYA: The recent rally in oil and gas (O&G) counters on Bursa Malaysia was short-lived as the sector’s turnaround remains sluggish with demand recovery expected to face roadblocks due to a fresh wave of coronavirus (Covid-19) infections.
Despite the bullish sentiment on O&G stocks, analysts reckon the recovery in the sector would take a while and that oil majors such as Petronas will continue with its plan to cut capital expenditure (capex).
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