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HLIB maintains ‘overweight’ stance on O&G industry

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The research house expects oil prices to remain ‘higher-for-longer’ in the medium term.

Hong Leong Investment Bank predicts a positive outlook for oil and gas companies in the medium term.

The research house has maintained its “overweight” rating on the O&G sector and revised its target Brent crude oil forecasts for 2023-2024 at US$85 per barrel and for 2025 at US$80 per barrel. HLIB also pointed out that the limited supply capacity growth could also influence oil prices movements due to the projected slowdown of shale oil output growth and impending restocking activities of the US Strategic Petroleum Reserve .

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Hong Leong Investment Bank maintains overweight rating on O&G SectorKUALA LUMPUR, Nov 6 — Hong Leong Investment Bank (HLIB) maintained its overweight rating on the oil and gas (O&G) sector and expects oil price to remain higher-for-longer at the...
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