Environment

OPEC+’s mixed messages, recession fears make it too early to buy the dip on our oil stocks

An Austrian soldier guards the entrance to the OPEC headquarters on October 4, 2022 on the eve of the 45th Meeting of the Joint Ministerial Monitoring Committee and the 33rd OPEC and non-OPEC Ministerial Meeting held on October 05, in Vienna, Austria. 
Joe Klamar | AFP | Getty Images

A slide in crude oil prices has weighed on the Club’s three energy holdings. But given the uncertainty around OPEC+’s output policy ahead of a key meeting this weekend, coupled with growing concerns over the health of the global economy, we’re sitting tight on buying the dip — at least for now.

Articles You May Like

Ministers apply finishing touches to ‘Tell Sid’-style NatWest offer
Travel chaos at airports across UK amid nationwide border issue
‘Sunak’s broken promises’: Second Tory MP in 11 days defects to Labour Party
China’s Ant Group doubles down on global expansion with cross-border payments offering Alipay+
NFL experts debate the draft: Best picks and biggest head-scratchers