If you’ve been secluded in the jungles of the Amazon for the last month, you may not have heard that oil and gas stocks took a deep dive. So let me fill you in! The latest downward trend stemmed from OPEC’S October report showing production growth of 127 million barrels per day in October. After a fear of oil shortages drove up crude prices, OPEC came back to say those numbers were exaggerated. While investors already in the oil and gas market are waiting to see whether the industry heads into a bear market, analysts say it’s Black Friday if you’re looking to invest! TransCanada Corp. (TSX:TRP)(NYSE:TRP) TransCanada’s Keystone XL pipeline is still facing heat. First rejected by then-President Obama, next it was resurrected by Trump and finally shot down again recently by a Montana judge citing failure to comply with federal environmental regulations. This and the plunge in oil prices has seen the company drop about 14% since January. But Keystone isn’t TransCanada’s only project and in fact is the only pipeline of its four phases that isn’t operational. TransCanada’s LNG plant was approved, and it expects the Coastal GasLink natural gas pipeline should be complete by 2022. […]
