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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (144445)	1/27/2023 2:19:53 PM
From: Goose94	Read Replies (1) \| Respond to of 202736

Crude Oil: The four tenets of our “multi-year oil bull market” thesis remain intact. Demand is set to surge as China emerges from its COVID-19-zero policy, U.S. shale will grow by only ~0.5MM Bbl/d given asset maturity, 20 per cent inflation costs, and investors’ ongoing demand to prioritize dividends over production growth. OPEC spare capacity remains challenged with incremental capacity not coming online until 2025 and 2027, also the global supermajors continue their eight-year-long trend of insufficient investment. We believe that while the path will be volatile, oil will strengthen throughout the year reaching US$100WTI in the coming quarters. Energy stocks remain severely mispriced discounting an oil price below US$60WTI. Given record free cash flow and a commitment to return the majority of it back to investors, we believe that 2023 will be another very strong year of performance. We remain bullish. Eric Nuttall on BNN.ca Market Call Friday January 27th @ 1200ET