It was just two days ago that I encouraged a waiting game on energy portfolios.
What I said was —– that either the Saudis were going to get frustrated at a market that refused to take their production cuts seriously and chose to turn 180 degrees and flood the market instead.
OR
That the Federal Reserve would have to reverse their course of interest rate hikes, and allow the dollar and inflation to work back into oil’s favor.
WELL – it looks like number two is happening.
“We’re aware of the risk that we would hang on too long” before reducing borrowing rates, the Fed chair said today.
This means everything for oil and gas stocks for 2024. And adds a totally new wrinkle to my RECAP and OUTLOOK webinar coming on Tuesday Dec 19th at 4PM
You cannot afford to miss it.
If you haven’t signed up already – simply send an email to dan@dandicker.com with the subject ENERGY WORD 2023 RECAP and I’ll get you on the invitation list.
See you there.
dan@dandicker.com
