Oil Prices Projected to Surpass $80 per Barrel in Near Term, Says CLSA
Stock News
Yesterday
According to a research report from CLSA, escalating geopolitical tensions surrounding Iran over the past weekend could push oil prices above $80 per barrel in the short term. This development is expected to benefit Chinese oil companies, particularly PETROCHINA (00857) and CNOOC (00883), which not only offer dividend yields of 5-6% but also serve as low-cost hedges against inflation. On the other hand, Chinese chemical stocks, which have performed strongly recently, may face downward pressure due to rising input costs.
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