Elevated prices poised to support growth

Bright prospect: A gas drilling platform is seen in Europe in this file picture. In the near term, oil prices are forecast to hover north of US$80 per barrel on average. —AFP

AN elevated oil price environment in the year ahead will encourage higher capital expenditure (capex) in the oil and gas industry. This means increased jobs and activities in the sector, boosting its prospects heading into 2024.

Overall, oil and gas companies in Malaysia are expected to benefit from this capex upcycle.