3 Stocks under PTT Group Soar 2% ahead of OPEC+ Meeting for Production Cut to Meet Demand

The share prices of PTT Public Company Limited (PTT) and its two subsidiaries; PTT Exploration and Production Public Company Limited (PTTEP) amd PTT Global Chemical Public Company Limited (PTTGC) all rose in the morning session ahead of the OPEC+ meeting for a production cut.

 

PTT closed the morning session at ฿36.75/share, increased ฿0.75/share or 2.08% with a trading value of 2,379 million baht.

PTTEP closed the morning session at ฿84.00/share, increased ฿1.25/share or 1.51% with a trading value of 1,016 million baht.

PTTGC closed the morning session at ฿36.50/share, increased ฿0.75/share or 2.10% with a trading value of 580 million baht.

 

The share prices in PTT Group were mostly positive in the past week after the oil prices briefly plunged lower than $20/bbl then bounced back after the U.S. President Donald Trump said that Saudi Arabia and Russia were close to an agreement in his twitter. The oil prices spiked, although Russia denied the statement.

The oil prices plunged on Monday after the scheduled meeting were delayed and, again, bounced back after a new date had been settled to be held on Thursday, coupled with a report of Russia joining the conference.