Major banks predict bullish outlook for oil
Reach Energy was down over the same six-month period, but at 48 sen as of yesterday, the stock is substantially higher from its recent Aug 30 low of 29 sen
PETALING JAYA: The rally in the oil market is fuelling speculation that the price of Brent crude futures, the international benchmark, could reach US$70 a barrel by the end of the year.
It had risen 23% over the past six months.
The surging price of crude oil is good news for independent drillers such as Hibiscus Petroleum Bhd and Reach Energy Bhd
, on hopes that these companies will earn more dollars for every barrel produced.
...
The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.
Related Stocks
Comments