SINGAPORE (Jan 5): With the production cut announced by OPEC in November, RHB Research has forecast crude oil prices will average at US$60 a barrel for 2017.

At this price level, oil majors and upstream crude oil producers would be incentivised to restart their exploration and development projects, according to RHB’s Singapore research team.

That will be good for the companies under RHB’s coverage as they build vessels for the exploration and development portion of the value chain.

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