Oil price has climbed from a low of $30 per barrel early this year to $40 now. It is a more than 30% rise and share prices of Keppel Corp and Sembcorp have climbed in quite a similar fashion.
So the questions really are:
“Has oil price bottomed out? Is now the right time to dive into Oil and Gas shares?
Bad sentiments – good time for entry?
I was in Kuala Lumpur this week to visit clients and also to attend the bi-annual Offshore Technology Centre “OTC” exhibition. The exhibition is buzzing with more than 15,000 delegates and trade visitors and close to 18,000 registrants from over 80 countries. For me, I met so many familiar faces from the industry as well as new faces as young as fresh graduates. It was great!
Many mentioned that the exhibition was so busy because people just do not have much work ...