The Oil Bull Thesis Is Just Getting Started
Many charts in the link.
https://seekingalpha.com/article/4162843-oil-...ng-started
Summary
With WTI at multi-year highs, the real oil bull thesis is just getting started.
IEA reported that OECD storage was a draw instead of a build in Q1, and exactly in line with our variant perception at the end of 2017.
With consensus still overly obsessed about U.S. shale, non-OPEC supply disappointment will capture a big part of the investment community in the second half of 2018.
The severity of the storage draws alongside production disappoints in the "Rodney Dangerfield club" will push oil prices higher. Based on fundamentals alone, we see $85/bbl WTI.
If market history has taught us anything, it's that the consensus will be late once again to the party.
This idea was discussed in more depth with members of my private investing community, HFI Research.
Many charts in the link.
https://seekingalpha.com/article/4162843-oil-...ng-started
Summary
With WTI at multi-year highs, the real oil bull thesis is just getting started.
IEA reported that OECD storage was a draw instead of a build in Q1, and exactly in line with our variant perception at the end of 2017.
With consensus still overly obsessed about U.S. shale, non-OPEC supply disappointment will capture a big part of the investment community in the second half of 2018.
The severity of the storage draws alongside production disappoints in the "Rodney Dangerfield club" will push oil prices higher. Based on fundamentals alone, we see $85/bbl WTI.
If market history has taught us anything, it's that the consensus will be late once again to the party.
This idea was discussed in more depth with members of my private investing community, HFI Research.
