{"id":46699,"date":"2020-02-06T08:56:34","date_gmt":"2020-02-06T01:56:34","guid":{"rendered":"https:\/\/yuanta.com.vn\/?post_type=phan-tich&#038;p=46699"},"modified":"2020-02-06T08:56:34","modified_gmt":"2020-02-06T01:56:34","slug":"og-stocks-under-pressure-amid-coronavirus-outbreak","status":"publish","type":"phan-tich","link":"https:\/\/yuanta-uat.ysvn.com.vn\/en\/analysis\/og-stocks-under-pressure-amid-coronavirus-outbreak","title":{"rendered":"O&amp;G Stocks Under Pressure Amid Coronavirus Outbreak"},"content":{"rendered":"<p>Short-term pressure on oil prices<\/p>\n<p><strong>Concerns about global oil demand are on the rise <\/strong>which is reasonable given that China is the world&#8217;s largest oil importer. WTI at US$51.6 and Brent at US$55.6 per barrel have both fallen c. -20% since early January. US Energy Information Administration forecasts average 2020 prices of US$59.25 for WTI (+3.9% YoY) and USD 64.83 for Brent (+1%), but these pre-CoV expectations could face downside risk.<\/p>\n<p><strong>O&amp;G shares are also under pressure<\/strong>. Sector bellwethers such as GAS, PVS, and PVD have corrected 15%-20% from their early 2020 peak levels. Since Dec 2019, the correlations of sector names and oil prices have remained high: GAS (65%), PVD (76%), and PVS (69%).<\/p>\n<p><a href=\"http:\/\/yuanta-uat.ysvn.com.vn\/wp-content\/uploads\/2020\/02\/20200203-OG-sector-note.pdf\">20200203 OG sector note<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Short-term pressure on oil prices Concerns about global oil demand are on the rise which is reasonable given that China is the world&#8217;s largest oil importer. WTI at US$51.6 and Brent at US$55.6 per barrel have both fallen c. -20% since early January. US Energy Information Administration forecasts average 2020 prices of US$59.25 for WTI&#8230;<\/p>\n","protected":false},"author":10,"featured_media":0,"template":"","class_list":["post-46699","phan-tich","type-phan-tich","status-publish","hentry","analysis-category-market-strategy","analysis-category-oil-gas"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.3 (Yoast SEO v23.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>O&amp;G Stocks Under Pressure Amid Coronavirus Outbreak | Yuanta Vietnam<\/title>\n<meta name=\"description\" content=\"Short-term pressure on oil prices Concerns about global oil demand are on the rise which is reasonable given that China is the world&#039;s largest oil\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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