Shell's upcoming second-quarter earnings report is poised to significantly boost net income expectations, potentially by over 10%, according to Jefferies analysts. The energy giant is expected to raise production guidance for integrated gas and upstream operations, alongside a stronger marketing and trading performance, driving its shares up 2.35% to 2,981 pence.

Meanwhile, Malaysia's oil and gas sector anticipates benefits from increased Petronas capital expenditure by 2027 and broader regional energy security investments. Hong Leong Investment Bank maintains an overweight rating on the sector, favoring Dialog Group, despite lowering its 2026 Brent crude forecast to $80 a barrel from $90.

In contrast, Total Energies faces potential headwinds. Baader Helvea predicts lower oil prices could impact the French company's 2026 earnings per share, revising its Brent crude forecast down to $87 a barrel. This adjustment leads to a reduced EPS forecast for Total Energies to $12.4 from $13.7.