KUALA LUMPUR: Oil and gas (O&G) companies are expected to increase their capital expenditure (capex) programme in 2021, if crude oil prices stay between US$60 and US$70 per barrel (US$1= RM4.13), according to Moody's Investors Service.
Moody’s corporate finance group analyst Sim Hui Ting said that with more O&G companies revising their capex programmes upwards due to impacts from the COVID-19 pandemic, it would lead to higher profitability for oil field services companies.
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