Brent crude to average US$60-70 per barrel this year, says MIDF Research

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KUALA LUMPUR (March 9): MIDF Research has maintained its “Positive” rating on the oil and gas sector and said oil price continued to remain stable at around US$60 per barrel.

In a note Monday, the research house said it expects Brent crude to average around US$60 to US$70 per barrel in 2015.

“Cost rationalisation seen among production sharing contract operators in Malaysia.

“Sector expected to operate more efficiently through better asset utilisation rates.

“Maintain Positive on sector,” it said.