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

CNBC Daily Open: High rates are still hobbling IPOs
Huawei’s chip breakthrough poses new threat to Apple in China — and questions for Washington
Russell Brand tells fans ‘there are things he cannot discuss’ as he plays comedy show after assault claims
‘In the right area’: Ex-Bank of England governor urges interest rate caution
The Port of Baltimore just bought an electric wheel loader