Q: I would like your opinion as to what has been driving the price of Energy stocks down ( like CJ who has good fundamentals ) other than the price of oil and gas.
Also why is the price of oil and gas low, when demand seems relatively strong.
Also why is the price of oil and gas low, when demand seems relatively strong.
5i Research Answer:
US oil production has been far higher than expected, and this is one reason for weakness. OPEC has not really been able to reduce supply further, and then there is concern about China economic growth. Also, with other sectors rallying hard, the energy sector is likely been sold off as investors move into more interest-sensitive sectors.