OIL price rising above US$50 per barrel for Brent crude has raised questions on how sustainable is the current rally in oil stocks.
The consensus appears to be that the run-up in oil stocks will be on as long as oil price maintains at current levels but over the long term, factors to watch for would be oversupply, oil inventory and Iranian production.
At the same time, the Saudis and Opec members are struggling with budget deficits and may be forced to curtail production. Also, there is geopolitical risk posed by Russia’s military involvement in Syria.
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The consensus appears to be that the run-up in oil stocks will be on as long as oil price maintains at current levels but over the long term, factors to watch for would be oversupply, oil inventory and Iranian production.
At the same time, the Saudis and Opec members are struggling with budget deficits and may be forced to curtail production. Also, there is geopolitical risk posed by Russia’s military involvement in Syria.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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