From sharp cuts to Chinese oil production to falling inventories of refined fuel products, signs are mounting that Asia's oil markets are slowly returning to balance.
SINGAPORE (Nov 30): OCBC Investment Research believes the worst might be over for the oil and gas sector, with less downside risk than a year ago and most of the negatives having been priced in.
“Currently, many companies are now trading at about 0.5x book or lower, with a few exceptions,” says OCBC lead analyst Low Pei Han in a Wednesday report.
The challenge now, Low says, is in “picking companies with the ability to ride the downturn” and “identifying the inflection point in which a sustainable recovery would begin”.
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Posted by ferdtwh > 2016-10-12 13:43 | Report Abuse
the volume normal only..... and up abit because of oil price rally......