Oil Search: RBC Cuts to Sector Perform, Price Target Slashed by 19%

RBC Capital Markets has downgraded Australian-listed liquefied natural gas supplier Oil Search (OSH.AU) to sector perform after the bank lowered its oil price forecasts.

Oil Search, which operates in Papua New Guinea, was not only lowered from outperform, analyst Ben Wilson also cut his price target to AUD6.50 a share from AUD8 a share.

RBC Capital Markets has cut its forecasts for Brent and West Texas Intermediate (WTI)…

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