BUZZ-European Oil & Gas: sector’s cash jaws are set to open-DB

** On the back of rising cash flow expectations, Deutsche Bank raises price targets in the sector by an avg 6 pct

** "The sector's 2018 FCFY moves towards 7% in 2018 (a 15% uplift) and 8% in 2019" - per broker

** It adds that the rise in FCFY (Free Cash Flow Yield) as well as the move from scrip to buy-back in 2018 suggest value upside

** DB continues to prefer the UK majors - BP and Shell (LSE: RDSB.L - news) in particular, believing that both cos offer an attractive +5 pct income yield and are most likely to offset absolute share counts through the use of buy-backs

** DB calls for some caution though, seeing oil retracing from $69/bbl spot (revises expectations to $62/bbl from $54.5 in 2018 and $65/bbl from $60 LT)

** With Brent trading 10% above its expectations, DB would not chase stocks at current levels but rather see weakness as an opportunity to add

** Overall, the broker remains constructive on the oils into 2018, saying that, with their cash cycles rebalanced for a $50/bbl world and material project driven cash flow yet to come, "the sector’s cash jaws are set to open"