Lau says the outlook for the O&G sector remains favourable.
PETALING JAYA: While oil majors are cutting costs in anticipation of volatility in prices, analysts say Petroliam Nasional Bhd’s (PETRONAS) guidance will be key for the prospects of the local oil and gas (O&G) industry here.
The Organisation of the Petroleum Exporting Countries (Opec) in its latest monthly report forecast demand for its crude oil would increase by about 1.3 million barrels per day (bpd) by the end of 2025 which means the group is only able to unwind a third of current Opec cuts of close to four million bpd.
