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Sector Update � Oil & Gas (NEUTRAL,
maintain)
- Gradual recovery to be expected Sector earnings momentum for the recently concluded 1QCY17 result season has been positive. However, of late we believe the market may have somewhat mispriced the fundamentals of oil prices due to over concerns on global supply glut. With global GDP growth improving on the back of a recovery in private consumption, global demand may tick upwards leading to a more balanced ecosystem. However, we acknowledge that the recent correction in global oil prices may lead to lacklustre sentiment in the sector in the near term. As such, we maintain our NEUTRAL rating on the O&G sector.
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Other Calls
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For
important disclosures, please refer to the Disclosure section at the end of
the individual linked research reports. |
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