Nuttall see trump as positive for Canadian oil I think a Trump presidency is bullish for the price of oil," said Eric Nuttall, partner and senior portfolio manager at Ninepoint Partners in Toronto.
"The reason I believe that is that, domestically, the 'drill, baby, drill' narrative is toothless, meaning no president can influence the rate of production growth."
Nuttall doesn't believe Trump will place tariffs on Canadian oil, as the U.S. energy industry is heavily reliant on Canadian heavy oil imports.
"They would be shooting themselves in the foot were they to make their very own feedstock more expensive," he said.
He anticipates Trump to be hawkish on enforcing existing U.S. sanctions on oil-producing Iran, which could ultimately trim global supplies.