BNN Coverage of Oil Production Cuts We might not like it, but OPEC+ 'surprise cut' makes sense: Strategist
Adam Johnson, founder and author of Bullseye Brief, joins BNN Bloomberg to discuss OPEC+ surprising production cuts announcement. Johnson says oil is self-correcting, once prices go down supply needs to get tighter. When it comes to the stock market, Johnson says 'no one ever believes it', but this could be the start of a new bull market.
https://www.bnnbloomberg.ca/video/we-might-not-like-it-but-opec-surprise-cut-makes-sense-strategist~2659573
Oil supply will continue to disappoint, price will eventually hit all-time highs: Josh Young
Josh Young, founder and CIO at Bison Interests, tells BNN Bloomberg there has been significant underinvestment in oil exploration, and that current trends of all-time high production cannot be sustained. He says prices will have to move higher to support production. He notes oil prices are still down year over year despite the jump after OPEC+ announced output cuts. He explains why Vital Energy (VTLE NYSE) and Journey Energy (JOY TSX) are poorly understood stocks with enormous upside potential.
https://www.bnnbloomberg.ca/video/oil-supply-will-continue-to-disappoint-price-will-eventually-hit-all-time-highs-josh-young~2660191
Don't own any of their recommendations but it's interesting that they don't see the increase having much impact on inflation and the first analyst thinks it's the "least loved bull market that he's ever seen." GLTA