Regional Oil & Gas
Reserach by RHB
Neutral (Maintained)

"A Challenging Year Ahead For OPEC+"

Maintain NEUTRAL; Top Picks: TOP, Keppel, Yinson. The crude oil price ended the week at USD62/bbl (+7% from early October), buoyed by falling US crude oil inventories, US-China trade war optimism, and the prospects of further cuts by OPEC+ at its upcoming December meeting. We note several market-moving events over several weeks that could affect crude oil prices (US Fed meeting and OPEC production survey). Our crude oil price forecasts are USD64/bbl for 2019-2020, with the long-term oil price at USD60/bbl. 

Kannika Siamwalla, CFA
+66 2088 9744
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Regional Oil & Gas
Reserach by RHB
Neutral (Maintained)

"A Challenging Year Ahead For OPEC+"

Maintain NEUTRAL; Top Picks: TOP, Keppel, Yinson. The crude oil price ended the week at USD62/bbl (+7% from early October), buoyed by falling US crude oil inventories, US-China trade war optimism, and the prospects of further cuts by OPEC+ at its upcoming December meeting. We note several market-moving events over several weeks that could affect crude oil prices (US Fed meeting and OPEC production survey). Our crude oil price forecasts are USD64/bbl for 2019-2020, with the long-term oil price at USD60/bbl. 

Kannika Siamwalla, CFA
+66 2088 9744
kannika.si@rhbgroup.com


$SGX-BN4 $KLSE-YINSON $OIL 