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Published on: Friday, March 12, 2021 By: Bernama Text Size: It said crude demand to be driven by transportation and healthier petrochemical product prices, and they are expected to come in stronger in the second half of 2021 with progress being made in the vaccination front. (Image: Bloomberg) Kuala Lumpur: MIDF Research has upgraded the oil and gas (O&G) sector to “positive” from “neutral” previously following the crude oil demand recovery. The research house has also revised its 2021 Brent crude target price to US$59 per barrel from US$51 per barrel previously. (US$1 = RM4.12). “Following recent developments, we opine that the crude oil price will continue to trade range bound of between US$58 and US$65 per barrel in the first half of of 2021 with supply expected to be actively curbed by deliberate reduction in production of crude oil especially coming from the United States as well as the Organisation of Petroleum Exporting Countries (OPEC)+ alliance,” it said in

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