As crude oil exporters Russia and Saudi Arabia enter into a standoff over production limits, importers of the fossil fuel stand to benefit, Mark Mobius said.
“We must remember this oil price decline is very good for India, China and all these oil-importing countries,” the market veteran told Bloomberg in an interview. “But of course, now's the time to be buying like porcupines make love.”
“Right now, we're looking at all these markets because some of them are really down substantially. We're seeing incredible opportunities and bargains,” Mobius said, adding that liquidity continues to be an issue in emerging markets.
Watch the interaction here:
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