With the price of oil back down into the $30s, we have revisited our Ws thesis on the energy space. And while the vast majority of the news flow is negative, a number of interesting developments may indicate we are near one of the troughs in the Ws. In this report we explore the demand/supply imbalance, America as the worst swing producer ever, financial taps are off, plus more. With high and low quality being sold down together, we believe there are opportunities and are currently adding exposure, thus reducing the underweight across our portfolios.
Click HERE for the report