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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (91440)	8/6/2020 2:27:26 PM
From: Goose94	Read Replies (1) of 202936

Crude Oil: Eric Nuttall stand at the cusp of a new bull market for oil, painfully deferred thrice by a White House-induced Saudi production surge in 2018, a US/China trade war in 2019, and in 2020 by a global pandemic causing the largest (temporary) demand shock in history. The silver lining for oil bulls is that the events forcing an agonizing walk through investment purgatory also cemented the realities that will cause oil prices to surge in the coming years. This includes an exhaustion of Tier 1 US shale inventory and continued disenfranchisement of energy equities. Ongoing fiscal discipline and a complete re-evaluation of the US shale business model going forward and continued under-investment in long-lead mega projects will result in stagnating global offshore production and eventual decline. We will also see increased fiscal urgency among OPEC nations, fostering a high degree of cooperation and compliance. Within the next two years it seems likely that given US shale output inelasticity to a rising oil price and global demand growth that OPEC’s capacity will be exhausted. This will lead to a price spike, incentivizing new investment in long-lead projects and temporarily rationalizing demand so as to balance the market. Given that the average lead time of such projects is 4 - 6 years the longevity of the next oil bull market should allow for significant upside in energy stocks We see the best opportunity in the world in Canadian small and mid-cap energy stocks trading at 20+ / 40+ per cent free cash flow yields at $50 / $60WTI in 2021 offering multi-bagger potential. BNN.ca Market Call Thirst-day Aug 6th @ 1200ET

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