RE:from seeking alpha While the current oil price decline isn't favorable, I'm a big fan of buying opportunities, which is why I quoted energy expert Eric Nuttall in the article I just mentioned:
Wrapping up Day 1 at the always great Peters & Co conference. A bit of shellshock amongst many watching oil down 4% on no news. Fundamentally, the contrast to when we were last at $65WTI is stark. Balance sheets are in amazing shape and sustaining capital + servicing dividend = ~$45-55WTI, company dependent. We need higher volumes but trading action starting to feel capitulative to me. Fundamentally, many stocks yielding 5%-8% sustainable down to COVID-era pricing. This is not COVID: Financial demand for oil may be at a record low yet August demand hit a seasonal all-time high. We firmly believe that oil is oversold and mispriced fundamentally. - Eric Nuttall (X @ericnuttall)
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LOL !!!
- Eric Nuttall is a LOT of THINGS but "energy expert" is NOT ONE OF THEM
- I like Eric and I follow him but this DESCRIPTION is a HUGE STRETCH
z173