Opportunities Opening Up in the Energy Sector
We're not convinced the aggressive E&P sell-off, triggered by falling oil prices, is well-founded.
Jason Stevens: The sell-off in oil prices since this summer has been dramatic and sharp. And it has created a lot of opportunities within the energy space.
The key drivers here are three things happening at once, kind of a perfect storm. First, the continuing surge of tight oil production from the United States is bringing new supply online. Second, in OPEC, a bunch of barrels of oil that had been previously shut in have come back on the world market. And third, both of these supply shocks are happening at a time when demand is looking a little sluggish.
Jason Stevens has a position in the following securities mentioned above: WLL. Find out about Morningstar’s editorial policies.
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