Thailand fires up energy sector

Thailand’s energy and power sectors are poised for gains in the coming months, driven by rising oil prices and resilient refinery operations despite global disruptions. Investors may find fresh opportunities in oil exploration, refining, and electricity generation, as the market braces for a period of elevated commodity prices and government-led energy management measures.

Analysts at Maybank Investment Bank Group (Maybank IBG) have upgraded their outlook on Thailand’s energy sector to “positive” from “neutral”, citing the recent surge in crude oil prices and the potential for higher gross refining margins (GRM).