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The Rally In Oil Stocks May Be Short-Lived

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Home Oil Prices Rig Count Energy Energy-General Oil Prices Crude Oil Heating Oil Gas Prices Natural Gas Coal Company News Interviews Alternative Energy Nuclear Power Solar Energy Hydroelectric Renewable Energy Geothermal Energy Wind Power Fuel Cells Tidal Energy Biofuels Environment Global Warming Oil Spills Geopolitics Africa Asia Europe Indonesia International Middle East North America South America Finance the Economy the Markets Investing & Trading Reports Commodities Gold Silver Breaking News Premium Articles Community My Account Latest Discussions Energy General Oil Stocks & Prices Other Energy Topics All Prices OPEC Blends Canadian Blends U.S. Blends WTI Crude • 10 mins 41.27 -0.16 -0.39% Brent Crude • 11 mins 43.69 -0.06 -0.14% Natural Gas • 10 mins 2.694 +0.002 +0.07% Mars US • 3 hours 41.78 -0.01 -0.02% Opec Basket • 2 days 42.93 +0.88 +2.09% Urals • 22 hours 39.60 +0.00 +0.00% Louisiana Light • 2 days 42.34 +1.21 +2.94% Louisiana Light • 2 days 42.34 +1.21 +2.94% Bonny Light • 22 hours 42.86 -0.97 -2.21% Mexican Basket • 5 days 38.00 -0.83 -2.14% Natural Gas • 10 mins 2.694 +0.002 +0.07% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

Marine • 22 hours 43.86 +0.01 +0.02% Murban • 22 hours 44.25 +0.06 +0.14% Iran Heavy • 22 hours 41.08 -0.79 -1.89% Basra Light • 22 hours 46.21 -0.17 -0.37% Saharan Blend • 22 hours 42.30 -0.96 -2.22% Bonny Light • 22 hours 42.86 -0.97 -2.21% Bonny Light • 22 hours 42.86 -0.97 -2.21% Girassol • 22 hours 44.15 -0.69 -1.54% Opec Basket • 2 days 42.93 +0.88 +2.09% OPEC Members Monthly Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

Canadian Crude Index • 60 days 29.26 +0.23 +0.79% Western Canadian Select • 5 hours 31.74 +1.16 +3.79% Canadian Condensate • 21 hours 40.34 +1.21 +3.09% Premium Synthetic • 21 hours 41.74 +1.21 +2.99% Sweet Crude • 5 hours 36.44 +1.21 +3.43% Peace Sour • 5 hours 34.34 +1.21 +3.65% Peace Sour • 5 hours 34.34 +1.21 +3.65% Light Sour Blend • 5 hours 36.34 +1.21 +3.44% Syncrude Sweet Premium • 5 hours 36.94 +0.86 +2.38% Central Alberta • 5 hours 34.34 +1.21 +3.65% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

Louisiana Light • 2 days 42.34 +1.21 +2.94% Domestic Swt. @ Cushing • 22 hours 37.75 +0.00 +0.00% Giddings • 22 hours 31.50 +0.00 +0.00% ANS West Coast • 5 days 42.35 -0.66 -1.53% West Texas Sour • 22 hours 35.38 +0.09 +0.26% Eagle Ford • 22 hours 39.33 +0.09 +0.23% Eagle Ford • 22 hours 39.33 +0.09 +0.23% Oklahoma Sweet • 22 hours 37.75 +0.00 +0.00% Kansas Common • 2 days 31.50 +1.00 +3.28% Buena Vista • 2 days 44.90 +1.11 +2.53% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

1D 1M 3M 1Y All Charts Discussion Headlines 6 hours Oil Prices Under Pressure After API Reports Crude Inventory Build 7 hours India Urges Oil Firms To Consider Foreign Partners To Boost Production 8 hours Exxon’s Deepest Guyana Oil Well Disappoints 10 hours COVID-19 Takes Major Toll On Australian Oil & Gas Jobs 11 hours Equinor Sees COVID Accelerating Peak Oil Demand To 2027-2028 12 hours Tesla Stock Soars After S&P 500 Addition 1 day OPEC+ Meeting Concludes With Support For Cut Extension 1 day Sudan To Offer 27 Oil Concessions In Global Bidding Round 1 day Oil & Gas Discoveries Resilient In 2020 Despite Pandemic 1 day U.S. Natural Gas Stocks Close To Record-High At Refill Season End 1 day Michigan Order Enbridge To Shut Down Line 5 2 days Twitter Blocks Iran Oil Minister’s Account 4 days OPEC+ Compliance With Cuts At 101% Ahead Of Crucial Meetings 4 days Libya’s Oil Production Exceeds 1.2 Million Bpd 4 days The Price Of Permian Acreage Has Slumped By 67% After Oil Price Crash 4 days PDVSA Chief Goes to Russia To “Deepen Ties” 5 days Enbridge Gets More Permits For Line 3 5 days Fuel Demand Slump Speeds Up Refinery Closures 5 days Japan Could Restart Nuclear Reactor Damaged In 2011 Disaster 5 days Energy Has Become Bargaining Chip In Brexit Talks 5 days Australia-China Spat Threatens LNG Deal 5 days African Oil Producers Face Slump In Production 5 days Record-Breaking Hurricane Season Took Major Toll On Gulf Of Mexico Production 6 days Ghana Tells Eni To Merge Oil Field With Local Discovery 6 days Iran Claims Its Oil Exports Have Been At 700,000 Bpd Since March 6 days Lockdowns And More Lockdowns Threaten Oil Demand 6 days This Middle East Crude Is Becoming A Popular Benchmark For U.S. Oil Majors 6 days Saudi Arabia And Iraq Agree To Intensify OPEC Cooperation 6 days Canada And Saudi Arabia Lead Fossil Fuels Funding In G20 7 days Oxy Becomes First U.S. Driller To Announce Net-Zero Plan 7 days Oil Prices Tick Up With Inventory Draws Across The Board 7 days U.S. Energy Related CO2 Emissions Drop 7 days Pirate Attacks On Oil Tankers Off West Africa Intensify 8 days IEA: Renewables To Grow 7% In 2020 8 days UAE Oil Major ADNOC Sees Oil Demand Reaching 105 Million Bpd Within Decade 8 days Oman Looks To Raise $3 Billion Through Its Largest Oil Block 8 days India Invites Foreign Firms To Invest In Its Strategic Petroleum Reserves 8 days Japan Bets Big On Hydrogen For Zero-Emission Future 9 days Libya’s Oil Output Hits 1 Million Bpd 11 days UK Warning Highlights Energy Storage Importance To Renewables 3 minutes War for Taiwan? 7 minutes How China Is Racing To Expand Its Global Energy Influence 10 minutes Is it time to talk about Hydrogen? 29 mins U.S. Presidential Elections Status – Electoral Votes 56 mins One drawback of an EV . . . . 1 hour Trucking Demand; Refrigerated Vaccine Distribution 2 hours Fox News Parent Corporation stock dropped 6% today as Fox News Channel experiences viewer exodus. 5 hours In the Event of WW3, Oil and/or Renewables? 47 mins Trump Bans Americans From Investing In Chinese PLA-Linked Firms With Executive Order 2 hours Covid19 detected early 17 mins can Trump pardon himself? 14 hours The Big Picture 3 hours Renewables deprogramming 3 days What China fears more than war. and it’s happening now 20 hours Trump tells confidants if he loses he will run again in 2024. File before end of year . . . BRILLIANT ! 2 hours San Francisco Imposes Natural Gas Ban 2 days GPORGulfport Oil – Why? Breaking News: Oil Prices Under Pressure After API Reports Crude Inventory Build

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Home Energy Energy-General Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry

Home Oil Prices Rig Count Energy Energy-General Oil Prices Crude Oil Heating Oil Gas Prices Natural Gas Coal Company News Interviews Alternative Energy Nuclear Power Solar Energy Hydroelectric Renewable Energy Geothermal Energy Wind Power Fuel Cells Tidal Energy Biofuels Environment Global Warming Oil Spills Geopolitics Africa Asia Europe Indonesia International Middle East North America South America Finance the Economy the Markets Investing & Trading Reports Commodities Gold Silver Breaking News Premium Articles Community My Account Latest Discussions Energy General Oil Stocks & Prices Other Energy Topics All Prices OPEC Blends Canadian Blends U.S. Blends WTI Crude • 10 mins 41.27 -0.16 -0.39% Brent Crude • 11 mins 43.69 -0.06 -0.14% Natural Gas • 10 mins 2.694 +0.002 +0.07% Mars US • 3 hours 41.78 -0.01 -0.02% Opec Basket • 2 days 42.93 +0.88 +2.09% Urals • 22 hours 39.60 +0.00 +0.00% Louisiana Light • 2 days 42.34 +1.21 +2.94% Louisiana Light • 2 days 42.34 +1.21 +2.94% Bonny Light • 22 hours 42.86 -0.97 -2.21% Mexican Basket • 5 days 38.00 -0.83 -2.14% Natural Gas • 10 mins 2.694 +0.002 +0.07% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

Marine • 22 hours 43.86 +0.01 +0.02% Murban • 22 hours 44.25 +0.06 +0.14% Iran Heavy • 22 hours 41.08 -0.79 -1.89% Basra Light • 22 hours 46.21 -0.17 -0.37% Saharan Blend • 22 hours 42.30 -0.96 -2.22% Bonny Light • 22 hours 42.86 -0.97 -2.21% Bonny Light • 22 hours 42.86 -0.97 -2.21% Girassol • 22 hours 44.15 -0.69 -1.54% Opec Basket • 2 days 42.93 +0.88 +2.09% OPEC Members Monthly Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

Canadian Crude Index • 60 days 29.26 +0.23 +0.79% Western Canadian Select • 5 hours 31.74 +1.16 +3.79% Canadian Condensate • 21 hours 40.34 +1.21 +3.09% Premium Synthetic • 21 hours 41.74 +1.21 +2.99% Sweet Crude • 5 hours 36.44 +1.21 +3.43% Peace Sour • 5 hours 34.34 +1.21 +3.65% Peace Sour • 5 hours 34.34 +1.21 +3.65% Light Sour Blend • 5 hours 36.34 +1.21 +3.44% Syncrude Sweet Premium • 5 hours 36.94 +0.86 +2.38% Central Alberta • 5 hours 34.34 +1.21 +3.65% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

Louisiana Light • 2 days 42.34 +1.21 +2.94% Domestic Swt. @ Cushing • 22 hours 37.75 +0.00 +0.00% Giddings • 22 hours 31.50 +0.00 +0.00% ANS West Coast • 5 days 42.35 -0.66 -1.53% West Texas Sour • 22 hours 35.38 +0.09 +0.26% Eagle Ford • 22 hours 39.33 +0.09 +0.23% Eagle Ford • 22 hours 39.33 +0.09 +0.23% Oklahoma Sweet • 22 hours 37.75 +0.00 +0.00% Kansas Common • 2 days 31.50 +1.00 +3.28% Buena Vista • 2 days 44.90 +1.11 +2.53% Click Here for 150+ Global Oil Prices Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

1D 1M 3M 1Y All Charts Discussion Headlines 6 hours Oil Prices Under Pressure After API Reports Crude Inventory Build 7 hours India Urges Oil Firms To Consider Foreign Partners To Boost Production 8 hours Exxon’s Deepest Guyana Oil Well Disappoints 10 hours COVID-19 Takes Major Toll On Australian Oil & Gas Jobs 11 hours Equinor Sees COVID Accelerating Peak Oil Demand To 2027-2028 12 hours Tesla Stock Soars After S&P 500 Addition 1 day OPEC+ Meeting Concludes With Support For Cut Extension 1 day Sudan To Offer 27 Oil Concessions In Global Bidding Round 1 day Oil & Gas Discoveries Resilient In 2020 Despite Pandemic 1 day U.S. Natural Gas Stocks Close To Record-High At Refill Season End 1 day Michigan Order Enbridge To Shut Down Line 5 2 days Twitter Blocks Iran Oil Minister’s Account 4 days OPEC+ Compliance With Cuts At 101% Ahead Of Crucial Meetings 4 days Libya’s Oil Production Exceeds 1.2 Million Bpd 4 days The Price Of Permian Acreage Has Slumped By 67% After Oil Price Crash 4 days PDVSA Chief Goes to Russia To “Deepen Ties” 5 days Enbridge Gets More Permits For Line 3 5 days Fuel Demand Slump Speeds Up Refinery Closures 5 days Japan Could Restart Nuclear Reactor Damaged In 2011 Disaster 5 days Energy Has Become Bargaining Chip In Brexit Talks 5 days Australia-China Spat Threatens LNG Deal 5 days African Oil Producers Face Slump In Production 5 days Record-Breaking Hurricane Season Took Major Toll On Gulf Of Mexico Production 6 days Ghana Tells Eni To Merge Oil Field With Local Discovery 6 days Iran Claims Its Oil Exports Have Been At 700,000 Bpd Since March 6 days Lockdowns And More Lockdowns Threaten Oil Demand 6 days This Middle East Crude Is Becoming A Popular Benchmark For U.S. Oil Majors 6 days Saudi Arabia And Iraq Agree To Intensify OPEC Cooperation 6 days Canada And Saudi Arabia Lead Fossil Fuels Funding In G20 7 days Oxy Becomes First U.S. Driller To Announce Net-Zero Plan 7 days Oil Prices Tick Up With Inventory Draws Across The Board 7 days U.S. Energy Related CO2 Emissions Drop 7 days Pirate Attacks On Oil Tankers Off West Africa Intensify 8 days IEA: Renewables To Grow 7% In 2020 8 days UAE Oil Major ADNOC Sees Oil Demand Reaching 105 Million Bpd Within Decade 8 days Oman Looks To Raise $3 Billion Through Its Largest Oil Block 8 days India Invites Foreign Firms To Invest In Its Strategic Petroleum Reserves 8 days Japan Bets Big On Hydrogen For Zero-Emission Future 9 days Libya’s Oil Output Hits 1 Million Bpd 11 days UK Warning Highlights Energy Storage Importance To Renewables 3 minutes War for Taiwan? 7 minutes How China Is Racing To Expand Its Global Energy Influence 10 minutes Is it time to talk about Hydrogen? 29 mins U.S. Presidential Elections Status – Electoral Votes 56 mins One drawback of an EV . . . . 1 hour Trucking Demand; Refrigerated Vaccine Distribution 2 hours Fox News Parent Corporation stock dropped 6% today as Fox News Channel experiences viewer exodus. 5 hours In the Event of WW3, Oil and/or Renewables? 47 mins Trump Bans Americans From Investing In Chinese PLA-Linked Firms With Executive Order 2 hours Covid19 detected early 17 mins can Trump pardon himself? 14 hours The Big Picture 3 hours Renewables deprogramming 3 days What China fears more than war. and it’s happening now 20 hours Trump tells confidants if he loses he will run again in 2024. File before end of year . . . BRILLIANT ! 2 hours San Francisco Imposes Natural Gas Ban 2 days GPORGulfport Oil – Why? Breaking News: Oil Prices Under Pressure After API Reports Crude Inventory Build

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Brazil Is Emerging As The World’s Leading Offshore Oil Producer Despite low oil prices and…

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Home Energy Energy-General Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

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Share Facebook Twitter Google + Linkedin Reddit Premium Content The Rally In Oil Stocks May Be Short-Lived By Irina Slav – Nov 17, 2020, 7:00 PM CST Join Our Community First Pfizer and now Moderna have provided a much needed shot in the arm to the embattled oil industry, with their news about vaccine candidate efficacy lifting stocks strongly in the past week.

The Pfizer news kicked off the best week ever for energy stocks, CNBC reported, and Moderna’s update marked the start of what could be another strong week, especially as it came on the same day as OPEC+ decided to extend the current oil production cuts for three more months, till end-March. But how stable is the rally? This is the question investors should be asking.

It all hinges on the prospect of efficacious vaccines becoming widely available soon, and mass vaccination leading to a strong rebound in oil demand as people start traveling again. But the trial data is very early and based on small samples of trial participants. Pfizer, Moderna, and all other vaccine makers must collect more data, and not just on efficacy but on safety before they start distributing it on a mass scale.

There are also logistics challenges for the speedy distribution of large quantities of vaccines for the coronavirus. As the Wall Street Journal’s Max Colchester and Drew Hinshaw noted in a recent report , previous large-scale vaccination initiatives took years to be successful. They also tended to target specific demographics, such as children.

This time, there is a strong sense of urgency, and the aim is to vaccinate as many people as possible, regardless of age. This means getting enough doses to people and then encouraging them to take the vaccine. All of this takes time, and we’re not talking about a few weeks.

So, oil demand is not rebounding in any meaningful way anytime soon, at least not in Europe and the United States. It is rebounding in Asia, although more weakly than many hoped. And the surge in new Covid-19 cases in Europe and the U.S. could eventually offset the optimism sparked by the announcements from Pfizer and Moderna.

And then there’s the U.S. election and the renewable energy agenda to consider, especially for the long term.

“When you think about the fundamental change in how we get energy, clean energy, the emphasis that a [Joe] Biden administration is likely to put on that, I would view this [last week’s oil stocks rally] as a cyclical trade but not a secular trend that I would want to hold onto as a long-term investor,” said Nancy Tengler chief investment officer at Laffer Tengler Investments this week, speaking to CNBC.

Related: Oil Markets See Light At The End Of The Tunnel

Indeed there is a growing awareness of sustainability in energy among investors, and this awareness is pushing them to either reduce or completely eliminate their exposure to oil stocks despite the allure of stable dividends. These, by the way, just proved not so stable this year thanks to the crisis, with some supermajors cutting the payout because of the oil price rout.

Oil stocks have always been in a direct relationship with economic news. Positive news about the economy, national or global, tends to benefit the shares of oil companies as economic growth has so far invariably meant improving oil demand. This may be about to change in the future, however, because of the attention renewables are getting. It will be energy demand that will be growing as economies grow, but not necessarily oil demand.

These are trends that are slower to unfold than a market rally sparked by a vaccine update—following which, the CEO of Pfizer sold $5.6 million worth of stock in the company. Oil stocks are having some of their best days this year right now, and there will be more rallies down the road. The important thing about them is that they are unlikely to be particularly lasting, not until the industries reliant on oil begin to recover.

By Irina Slav for Oilprice.com

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