Ok, as promised, I’d look at turning bullish on oil after OPEC.
Well, I’m now bullish again.
Despite OPEC pledging to bring some supply back on, oil prices rallied nicely today as the market is and will be in an undersupplied situation.
Meanwhile, Permian producers are starting to run up against infrastructure restrictions (pipelines).
My picks are still pretty much the same...CJ.TO (still a great yield), CPG.TO (so beaten up) and BTE (market hated their deal but its ok long term). I was fortunate to sell most of my BTE position 6 weeks ago as I did not see that merger happening. I added some back in the past week.
Finally, I mentioned DNR previously and it has been a star...
In any respect, a rising tide should lift all boats unless Trump unleashes an SPR tsunami.