Elevated oil prices for the ‘foreseeable future’ are creating opportunities for ‘lean’ Canadian producers

Canadian energy stocks have lagged as climate considerations have placed greater scrutiny on the sector. But one advisor says a window is opening for investors. Are you a professional financial advisor? Register for Globe Advisor and then sign up for the weekly newsletter on our newsletter sign-up page . Get exclusive investment industry news and insights, the week’s top headlines, and what you and your clients need to know. Whether oil prices have stabilized, and what that means for energy investments are two big questions portfolio managers are contemplating in the wake of a substantial production cut from the Organization of the Petroleum Exporting Countries (OPEC) and its allies earlier this month as investors balance the prospect of sturdier crude prices against deepening recession risks. “We’re in a push and pull battle between those worried about demand and the global economy versus those worried about [oil] supply shortfalls,” says Martin Pelletier, senior portfolio manager at Wellington-Altus Private Counsel in Calgary. Despite the multiple macro headwinds, a case is building among some observers for oil prices to remain elevated and even rise meaningfully. If economies can manage to eke out growth as crude supplies tighten, oil prices could be poised […]

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