Maybank Kim Eng stays positive on Malaysia oil-and-gas sector amid volatility

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KUALA LUMPUR (Sept 17): The global oil market is going to be extremely volatile in the short term due to the attacks on Saudi Arabian oil facilities and there is scope for prices to surge beyond $80 a barrel, Maybank Kim Eng says. 

The brokerage keeps its positive stance on Malaysia's oil-and-gas sector, with Dialog Group, Yinson and Velesto as its top buys. 

Last weekend's attack on Saudi oil facilities has disrupted supply and destabilized an already fractured region, sparking concern of a potential escalation into a war akin to the Iraq-Kuwait conflict in the early 1990s, Maybank Kim Eng says.