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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (87048)	6/19/2020 2:48:23 PM
From: Goose94	Read Replies (1) of 203353

Crude Oil: Eric Nuttall demand has now recovered to roughly 90 per cent of pre-pandemic levels as economies around the world gradually return to normal. While energy stocks have rallied sharply from the lows, given that many remain down 60 per cent year-to-date, we see many opportunities in which they need to rally by 100 to 150 per cent to get back to where they were prior to COVID-19 (and valuations then were already nearest their lowest levels in history). We believe that U.S. shale hyper-growth is dead, that global offshore production has entered into a period of stagnation/decline, and that OPEC has limited remaining spare capacity (adjusted for current curtailed production) and a strong desire for materially higher oil prices. Given normalized inventory levels, by year-end, we believe oil can reach between $50 and $60 in 2022. With that macro backdrop, Canadian small and mid-cap oil stocks present the best opportunity for investors and we see many multi-bagger opportunities. BNN.ca Market Call Friday June 19th @ 1200ET

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