Upstream to gain from output cut

KUALA LUMPUR: The planned crude oil output cut by the Organisation of the Petroleum Exporting Countries and its allies (Opec+) of two million barrels per day (bpd) will have a positive impact on the financial performance of Malaysian upstream oil and gas (O&G) companies.

This is particularly so for those involved in exploration and production “as their earnings will benefit from stronger crude oil prices,” according to Tradeview Capital chief investment officer Nixon Wong.