Fund manager says oil is in a multi-year bull market – and names 3 stocks to cash in

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The bull market for oil is going to last at least six years, according to fund manager Eric Nuttall.

Oil has been on quite a ride this year, as prices soared due to the Russia-Ukraine war — and then turned volatile. Global benchmark Brent came close to its all-time high of $147 in March , but crude prices since then have generally declined, weighed down by mounting concerns over a possible recession and U.S. dollar strength.

Read more Goldman Sachs raises crude price forecast after ‘OPEC+ takes on the West’ NYU’s 'Dean of Valuation' says these Big Tech stocks are a better bet than 'traditional safe' firms Is it time to buy the dip? These stocks look set for big upside, according to Wall Street Nuttall noted that U.S. shale has been propping up global supply "for the past 8 years," with OPEC production unable to keep pace with strong demand.

 

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RiIiiIiIIiIiiiiiiight! I was Eric Nuttall back in the 1990's except I've been doing this for 40 years. Oil stocks will be devastated and leave investors broken soon enough but certainly it won't take years. Recession (2023) is my prediction.

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