2251 GMT - Australian oil producers have collectively only been this cheap once, says Barrenjoey. "However, the oil price was lower (US$40/bbl), as was LNG (US$2-4/mmBtu), and balance sheets were both higher geared and structured for higher oil prices, while growth portfolios were less diverse and carried greater execution risk," analyst Dale Koenders says. Barrenjoey upgrades Woodside to "overweight," from "neutral." That means the bank is now bullish on all three global producers: Woodside, Santos and Karoon Energy. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
May 06, 2025 18:52 ET (22:52 GMT)
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