POSCO International posted consensus-satisfying earnings for 1Q20. But, concerns towards its earnings from 2Q20 are emerging on likely: 1) earnings decrease at the trading division amid the Covid-19 crisis; and 2) OP erosion at the Myanmar gas field due to the recent oil price plunge. In order for investment sentiment to improve, oil prices will need to strengthen. Despite likely further growth at E&P division, oil price plunge to drain earnings going forward
