INVESTOR interest in local oil and gas (O&G) service providers is picking up after years of a lull, although there is a softening in global crude oil prices. As earnings improve, analysts expect the upward momentum in the share prices of these players to rise in tandem. “We expect an improved outlook for these O&G service providers. O&G service providers are enjoying higher daily charter rates, albeit gradually, he says, and increasing utilisation of their assets. “This will further anchor the earnings recovery within the local O&G service providers space.

Source: The Edge Markets December 12, 2022 18:01 UTC