Shane Obata’s Top Picks for September 6, 2024
Top picks from Shane Obata, portfolio manager, Middlefield Capital
Top picks from Shane Obata, portfolio manager, Middlefield Capital
OPEC+ has staved off an oil surplus this year by deciding to restrain production a little longer. But the temporary fix won’t hold back the supply glut awaiting global markets in 2025.
Oil was poised for a deep weekly loss on persistent concerns about soft demand and ample supply, with OPEC+ delaying a planned increase in production amid the dour outlook.
Top picks from Rebecca Teltscher, portfolio manager, Newhaven Asset Management
OPEC+ agreed to pause its planned oil output hike for two months after prices plunged amid fragile demand and plentiful supply.
Saudi Arabia’s oil revenue is seen rising to 2026 before declining quicker than previously expected through to the end of the decade, according to the International Monetary Fund.
David Burrows, president and chief investment strategist, Barometer Capital Management
Top picks from Paul Harris, partner and portfolio manager, Harris Douglas Asset Management
Brent erased its 2024 gains as concerns about demand in the world’s two biggest economies overshadow heightened geopolitical risks.
Oil steadied as investors weighed disruptions to Libyan output against concerns over the outlook for China’s weakening economy.
Top picks from Kim Bolton, president and portfolio manager of Black Swan Dexteritas
Top picks from Keith Richards, president and chief portfolio manager, ValueTrend Wealth Management
Exxon Mobil Corp. forecasts global oil demand in 2050 will be the same — or even slightly higher — than current levels, putting efforts to reach net zero carbon emissions by mid-century well out of reach.
After a strong start to the summer, the outlook for oil prices is unravelling — leaving trading desks, supermajors and Middle East producers grappling with what comes next.
Top picks from Gordon Reid, president & CEO, Goodreid Investment Counsel