O&G firms' earnings unlikely to shrink further

KUALA LUMPUR: KUALA LUMPUR: Earnings of local oil and gas (O&G) firms are not likely to shrink further as the downtrend in crude prices has largely stabilised and even tested new highs recently, analysts said. RAM Ratings expects average Brent crude price of US$40 (RM163.60) a barrel this year and US$45 a barrel next year. It said crude prices are likely to stay volatile in the coming months, pressured by a slew of uncertainties over supply growth and concerns on unsustainable consumption gr