Oil Stocks Tracking Crude, May Catch Up With Wider Market: Chart
(Bloomberg) -- Even after oil capped the biggest monthly gain this year in September, energy remains 2017's worst-performing group in the MSCI World Index. The picture may soon change, says Goldman Sachs Group Inc., as analysts stop cutting profit estimates for companies in the MSCI World Oil Gas & Consumable Fuels Index amid forecasts for rising demand. Energy firms have just begun tracking higher oil prices, and a continuation of the favorable conditions could even boost their earnings near term, analysts led by Peter Hackworth wrote in a note dated Monday.
To contact the reporter on this story: Abhishek Vishnoi in Singapore at avishnoi4@bloomberg.net.
To contact the editors responsible for this story: Divya Balji at dbalji1@bloomberg.net, Ravil Shirodkar, Vivek Shankar
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