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Oil price surges after Opec action but shale could spoil the party

Oil-linked stocks rally on SGX; analysts caution that outlook is still challenging, as oil majors are not spending
Friday, December 2, 2016 - 05:50
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Goldman Sachs estimates show that, assuming an Opec cut, daily demand and supply will be just brought into balance for the coming quarters.

Singapore

OIL-AND-GAS stocks on the Singapore Exchange (SGX) rallied on Thursday, after oil cartel Opec beat expectations by agreeing to cut output by 1.2 million barrels a day for the first six months of 2017. Non-Opec countries are expected to join in with another 0.6 million-barrel cut

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