KUALA LUMPUR, April 11 — Public Investment Bank has maintained its “overweight” call on the oil and gas sector as oil prices may stay elevated in the range of between US$100 and US$110 per barrel this year.
“While the release of strategic oil reserves should cushion the impact, this is not sufficient as it represents only a one-month offset to a potential disruption of Russia’s six million barrels oil exports per day,” Public Investment said in a research note today.
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