PETALING JAYA: The oil and gas (O&G) sector is expected to continue to face uncertainty stemming from the coronavirus (Covid-19) pandemic crisis despite the recent improvement in global crude oil prices.
AmInvestment Research expects companies’ earnings to be worse than during the 2015-2017 period that saw multiple financial distress on O&G companies.
“We expect the massive global demand destruction from the uncertain extent and duration of the Covid-19 pandemic to continue depressing industry sentiment extensively in the foreseeable horizon, ” it said in a report yesterday.
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