OPEC+’s mixed messages, recession fears make it too early to buy the dip on our oil stocks

Environment

An Austrian soldier guards the entrance to the OPEC headquarters on October 4, 2022 on the eve of the 45th Meeting of the Joint Ministerial Monitoring Committee and the 33rd OPEC and non-OPEC Ministerial Meeting held on October 05, in Vienna, Austria. 
Joe Klamar | AFP | Getty Images

A slide in crude oil prices has weighed on the Club’s three energy holdings. But given the uncertainty around OPEC+’s output policy ahead of a key meeting this weekend, coupled with growing concerns over the health of the global economy, we’re sitting tight on buying the dip — at least for now.

Products You May Like

Articles You May Like

Singer who replaced Olly Murs at Take That concert thought offer was a ‘joke’
Iran willing to ‘expend every Arab life’ in efforts to destroy Israel, former US security adviser says
FreeWire closes its HQ and lays off just about everyone
How Russian oil is still powering cars and planes in Britain
Tesla must provide NHTSA with Autopilot recall data by July or face up to $135 million in fines

Leave a Reply

Your email address will not be published. Required fields are marked *