Stable Oil Prices, Energy Security Expected to Support Malaysia's Oil and Gas Sector

Dow Jones10:29

0229 GMT - Malaysia's energy sector will likely remain supported by stable oil prices and a stronger focus on energy security, Kenanga IB analyst Lim Sin Kiat says in a note. Brent crude is forecast to average $80 a barrel in 2026 and $74 a barrel in 2027, as easing Middle East tensions are expected to keep supply disruptions contained, he writes. Lim expects higher investment in upstream oil and gas projects from next year, thanks to the energy-security theme. Near-term earnings could remain under pressure, as spending typically lags behind oil-price movements. Kenanga maintains an overweight rating on Malaysia's oil and gas sector. It names Petronas Dagangan as its top pick, citing attractive valuations after concerns about fuel-subsidy reforms eased following the reinstatement of diesel subsidies.(yingxian.wong@wsj.com)

(END) Dow Jones Newswires

July 14, 2026 22:29 ET (02:29 GMT)

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Near-term earnings could remain under pressure, as spending typically lags behind oil-price movements. Kenanga maintains an overweight rating on Malaysia's oil and gas sector. 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Brent crude is forecast to average $80 a barrel in 2026 and $74 a barrel in 2027, as easing Middle East tensions are expected to keep supply disruptions contained, he writes. Lim expects higher investment in upstream oil and gas projects from next year, thanks to the energy-security theme. Near-term earnings could remain under pressure, as spending typically lags behind oil-price movements. Kenanga maintains an overweight rating on Malaysia's oil and gas sector. 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