The PTT Family Rejoices as Share Prices Soar in Response to Output Cut-Jumping Oil Prices

The PTT Family Rejoices as Share Prices Soar in Response to OPEC Output Cut and Oil Prices Hike.

The share price of PTT Public Company Limited (PTT), PTT Exploration and Production Public Company Limited (PTTEP) and PTT Global Chemical Public Company Limited (PTTGC) edged higher on June 8 in response to the rising oil prices that recently climbed to $40/bbl.

 

PTT closed the morning session at ฿41.25/share, jumped ฿1.75/share or 4.43% with a trading value of 3,172 million baht.

PTTEP rose ฿5.25/share or 5.32% to ฿104.00/share with a trading value of 2,586 million baht.

PTTGC hiked ฿1.00/share or 1.96% to ฿52.00/share with a trading value of 1,4024 million baht.

 

The gain in PTT Group came from the positive sentiment after OPEC and its allies led by Russia, agreed on Saturday to extend its output cut at 9.7 million barrels per day for another month to maintain the global oil prices that plunged on lower demand amid the coronavirus outbreak.

Meanwhile, more countries started to ease their lockdown after seeing flat new coronavirus cases, indicating that the peak has passed, and the demand in oil would return.

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