On June 13, the stock market saw a downturn, but oil stocks surged, with GAS, PVD, BSR, PLX, and PVS all rising over 3%. Brent oil prices rose 9% to $75 a barrel due to tensions in the Middle East and EIA data showing a larger than expected drop in U.S. crude oil reserves. SSI Research predicts oil prices will fluctuate between $70-75 a barrel in 2025, improving profits for the oil sector. BSR is expected to see a 73% profit increase due to recovering consumption, while PVD and PVS will maintain growth from strong E&P activities. Major projects in the oil sector, such as LNG ports and expansions are anticipated to fuel development in the coming years. However, many projects are still in the planning stages, with commencement depending on various factors.
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