Local energy shares nosedived by more than 20% following a historic collapse of oil prices amid the price war tension jumpstarted by Saudi Arabia, setting the tone for another week of bear market for Thailand’s main equity benchmark. Share price of PTT Exploration and Production Plc (PTTEP), the oil and gas drilling arm of national oil and gas conglomerate PTT Plc, fell nearly 30% from Friday’s closing during the morning trading session on the back of a fractious meeting in Vienna between Opec member countries.
