The global oil market may be rebalanced well before many investors expect. According to Bernstein analyst Bob Brackett, oil-levered E&Ps will be some of the major beneficiaries once the oil market reaches equilibrium in the second half of this year.
“We believe that robust demand growth and falling non-OPEC supply will bring the oil market into balance in 2H2016,” Brackett explained.
Bernstein maintains Outperform ratings on the following oil stocks:
- Apache Corporation APA
- Anadarko Petroleum Corporation APC
- Cobalt International Energy, Inc. CIE
- Cabot Oil & Gas Corporation COG
- ConocoPhillips COP
- Devon Energy Corp DVN
- EOG Resources Inc EOG
- Range Resources Corp. RRC
- Southwestern Energy Company SWN
GMP analyst Bob Bakanauskas went long E&Ps back on February 3. He predicts that the oil market will transition from oversupply to undersupply in 2017. From that point forward, the world will once again require shale production growth.
“Our preference is…
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