- We raise our target price for Seatrium to S$2.80 on the back of potential removal of its regulatory overhang and positive sentiment towards the sector.
- As recently as a month ago, oil prices appeared fragile with angst about lower Chinese demand and higher supply from OPEC+. China’s recent massive stimulus measures plus significantly worsening Israel-Iran tensions saw a 14% rally in oil prices since the end of September.
- - Read this at SGinvestors.io -
Oil prices in a perfect storm.
- Prior to China’s recent stimulus measures, consensus had downgraded oil prices for 2024 and 2025, citing weak Chinese economic growth as one of the primary reasons for the bearish outlook. Since then, the Chinese government’s massive stimulus measures to reinvigorate its economy has markedly changed sentiment for the better.
- - Read this at SGinvestors.io -
How important is Iran’s oil industry?
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Adrian LOH UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-10-08
More views on outlook of offshore & marine sector:
Analyst Reports on Singapore Offshore & Marine Sector
