Post-Opec bloodletting continues for SGX oil stocks

Singapore

THE share prices of firms throughout the oil supply chain continued to slide on Monday, as fears of lower crude prices took even firmer hold after Big Oil's meeting last week.

Following the decision of the Organization of the Petroleum Exporting Countries (Opec) not to cut production last Thursday, the price of West Texas Intermediate (WTI) crude oil plunged more than 11.4 per cent to US$66.15 - a five-year low - by the end of last week.

On Monday, the stampede out of oil and gas stocks continued. Energy-related stocks featured heavily in the list of most heavily traded stocks, with offshore marine group Ezion Holdings shedding 21 Singapore cents or 15.8 per cent to S$1.115 by th…