KUALA LUMPUR, July 3 — The outlook for oil prices will continue to be uncertain, largely driven by the double jeopardy of a slowdown in demand and unabated supply from producers, said Sapura Energy Bhd. President and group chief executive officer Tan Sri Shahril Shamsuddin said accordingly, the...
Friday, 03 Jul 2020 10:09 PM MYTKUALA LUMPUR, July 3 — The outlook for oil prices will continue to be uncertain, largely driven by the double jeopardy of a slowdown in demand and unabated supply from producers, said Sapura Energy Bhd.
“However, the picture is not completely bleak. The oil and gas market outlook varies significantly by region, with the Middle East and South America growing the most over the long term. Shahril said that deepwater and brownfield projects were expected to withstand fluctuating oil prices. “Sapura Energy remains optimistic about our ability to navigate the turbulence. Since the 2014 downturn, Sapura Energy has adopted an agile strategy meant to steer us through a highly cyclical industry,” he said.
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