Analyst Pin-board BSR – Likely to surpass the annual profit guidance because of the oil price rally
We believe the oil price’s multiple-month rally since last October has surprised industry participants themselves in terms of 1Q earnings even though only two thirds of the quarter have gone by. We noticed that Vietnamese oil and gas companies prepared their 2021 guidance based on an assumption of oil price at 45 USD per barrel (WTI). As a result, there were pessimistic expectations in terms of profit. Now that oil price was around 50 USD at the beginning of the year and is currently hovering around 65 USD, we think there might be several companies who already achieved their annual target in the first months of the year and BSR is one of them.
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