Oil & Gas Drilling

This report looks at investment implications, for Norwegian assets, given the recent meeting, from the Norges Bank. 

Jonathan provides an update on Canada following strong performance from Canadian stocks last year. On a tactical basis, underweight Canada versus global ex-US on the expectation of tariffs targeting Canada and Mexico. Following a sell off, or if a trade war is avoided, investors should place Canadian stocks on upgrade watch with the goal of moving to a modest overweight versus global ex-US.

China’s oil demand growth will moderate to a still robust 4%-6% in the next six-to-nine months. We recommend that investors in China’s onshore and offshore stock indexes overweight energy producers.

Executive Summary Earnings Growth Outpacing Multiple Expansion Energy: After Seven Lean Years (Part II…