It's Likely Time To Buy Oil Stocks
Schlumberger(SLB) Seeking Alpha·2024-09-13 22:10
Jeremy Poland Oil has been under tremendous pressure, recently dropping to its lowest level in over a year. While the increased supply and lower demand are concerning, low oil prices could lead to more production cuts, which minimizes the potential downside here. Also, the economy is likely going through a transitory slowdown, and demand could increase as we advance. Additionally, the FOMC will likely cut rates next week, and a long-term easing cycle will likely begin. This dynamic is bullish for oil as ...