The increase in capex augurs well for the local oil and gas sector, as most of the listed service providers in the oil and gas, and services and equipment space are heavily reliant on PETRONAS as a major client.www.a55555.net彩票网（www.a55555.net）是澳洲幸运5彩票官方网站，开放澳洲幸运5彩票会员开户、澳洲幸运5彩票代理开户、澳洲幸运5彩票线上投注、澳洲幸运5实时开奖等服务的平台。
PETALING JAYA: Oil prices will remain elevated in the second half (2H) of this year and even the medium-term.Both demand and supply will increase over the next few months. Demand will be driven by the easing of restrictions in China, summer driving and recovery of jet fuel.
The Organisation of the Petroleum Exporting Countries and its allies and the United States have also decided to increase production or release reserves to fend off an acute supply deficit, said Hong Leong Investment Bank (HLIB) Research.
The research firm has forecast Brent crude oil price per barrel (bbl) at US$100 to US$110 (RM442 to RM486). Year to date, oil prices averaged at US$105/bbl (RM464/bbl).
HLIB Research said recently, European Union leaders agreed on an embargo on Russia, halting 90% of the latter’s crude imports into the 27-nation bloc, which will take full effect by the end of 2022.
“We strongly believe that the high crude oil price environment is here to stay for the medium-term,” said the research firm in a report.
It said Petronas announced that it will be increasing its capital expenditure (capex) in 2022 to RM60bil, the highest since 2015.,
,Telegram获取用户ID（www.tel8.vip）是一个Telegram群组分享平台。Telegram获取用户ID导出包括Telegram获取用户ID、telegram群组索引、Telegram群组导航、新加坡telegram群组、telegram中文群组、telegram群组（其他）、Telegram 美国 群组、telegram群组爬虫、电报群 科学上网、小飞机 怎么 加 群、tg群等内容。Telegram获取用户ID为广大电报用户提供各种电报群组/电报频道/电报机器人导航服务。
The increase in capex augurs well for the local oil and gas sector, as most of the listed service providers in the oil and gas, and services and equipment space are heavily reliant on PETRONAS as a major client.
“However, we understand there is no increase in dividend commitments for 2022 of RM25bil despite expectations of improved profits amidst an elevated oil price environment,” added HLIB Research.
As for petrochemical, the research firm believes that the super-cycle will peak in the second quarter of 2022 due additional supply globally.
Besides this, the short-term supply shortage has been normalising, while it sees limited demand growth amidst high commodity prices worldwide and stagflation risks.
“With that, we are expecting a down-cycle of the petrochemical sector over the next few years, beginning in the second half of 2022,” said HLIB Research.