O&G stocks are at best trading plays post-Opec cut: UOB Kay Hian
But it cautions against yards not being able to replenish their order books
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OIL and gas (O&G) counters remain at best trading plays despite Opec's (Organization of the Petroleum Exporting Countries) agreement to cut production, lifting sentiments in the sector, a UOB Kay Hian research note said.
UOB Kay Hian in its Dec 9 sector update cautioned against shipyards not being able to replenish their order books even after O&G capital expenditure recovers. The brokerage noted production orders are expected to take centre stage on an O&G capex rebound.
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