[ET Net News Agency, 12 March 2020] Daiwa Research lowered its target price for CNOOC
(00883) to HK$8.9 from HK$9.5 due to heightened uncertainty and volatility and maintained
its "hold" rating.
The research house maintained its 2020 Brent forecast at US$40/bbl. Saudi Aramco said it
has been requested by Saudi Arabia's energy ministry to boost oil capacity further to
13mmbpd for April. Daiwa believes this move is likely a tactic by the US and Saudi Arabia
to bring Russia back to the negotiation table.
Meanwhile, UAE joins the fight with 1mmbpd output hike in April. It risks the
possibility of a full-blown price war that will involve not just Saudi Arabia and Russia
but also other oil exporters, Daiwa added. (KL)
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00883 CNOOC
Nominal 
19.000 +0.280 (+1.496%) Others
12/03/2020 11:19
{I-bank focus}Daiwa lowers CNOOC (00883) to HK$8.9; "hold"
| Remark: | Real time quote last updated: 25/04/2024 18:00 |
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