Offshore & Marine - Regional : OPEC's Supply Hike Within Expectations, Opportunities Abound For Bottomfishing | I3investor

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Offshore & Marine - Regional : OPEC's Supply Hike Within Expectations, Opportunities Abound For Bottomfishing

StockFanatic

Publish date: Mon, 25 Jun 2018, 11:57 AM

OPEC concluded its 174th meeting with plans to raise supply, but this will remain within its quota of ~32.5mbpd. A supply hike of 0.7-0.8mbpd is expected, largely within market expectations, and leaves room for oil to be undersupplied by ~0.5mbpd for 2H18. Their actions effectively set a price floor for oil, and recent price pullbacks provide attractive entry levels for oil-related names, on top of a short-term rebound trade. Preferred picks are KEP and WINS. Maintain MARKET WEIGHT.

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