MIDF Research upgrades oil and gas to positive

Dialog Group is among MIDF Research's top picks.

PETALING JAYA: Citing improving prospects, MIDF Research has upgraded its outlook for the oil and gas sector to “positive” from “neutral” previously.

“We upgrade to positive both the upstream sub-segment and downstream sub-segment. This is premised on sustained recovery trajectory in both demand and product prices. We anticipate that both sub-segments will benefit from the recent rally in oil price in terms of potential new contract awards following a more palatable oil price, ” MIDF Research said.