Michael Tran of RBC Capital Markets says “demand doesn’t need to be particularly strong, it just can’t be weak.”
Oil demand doesn’t need to be very strong for prices to go meaningfully higher, strategist says
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Buy oil stocks now – they look very cheap! Prices will soar later this year.
They were cheap in 2020. Now they’re undervalued but in no way cheap. If your risk tolerance is large there are some cheap highly leveraged companies but big runs have already happened. Eg sm energy from 90 cents to 40 dollars. Sm is a good value at 30 dollars but it’s not cheap. 90 cents was cheap.