Icon Offshore Bhd’s Datuk Seri Hadian Hashim (pic) says that demand for oil has been boosted by successful vaccination rollouts in China, Europe, the United States and Canada, which in turn had raised optimism about global economic recovery.
THE global crude oil price may have touched its highest level in three years this week, but oil majors are unlikely to ramp up their spending anytime soon.
That is not surprising considering that some analysts and industry players reckon that the oil and gas sector (O&G) is not out of the woods yet due to concerns about new Covid-19 variants, increasing lockdowns and a general under-investment in the sector.
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