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Feature Article

Talking Tankers

The supply-demand balance for oil tankers will weaken over the next two years, with capacity additions outstripping demand growth related to emerging trade routes, global production trends and increasing oil consumption. Nevertheless, many tanker stocks trade at valuations last seen when the market faced much bigger challenges. Meanwhile, the outlook for refined-product tankers looks better, with a smaller order book and Saudi Arabia’s growing focus on exported value-added products instead of crude oil expected to keep the supply-demand balance relatively tight.

Oil Prices, Production Volumes and MLP Investment Strategy

The most recent issue of Energy & Income Advisor, Dusting off the Crystal Ball, laid out our outlook for the stock market, the US economy and the prices of oil, natural gas and natural gas liquids (NGL) over the coming year. These views shape our strategy for investing in master limited partnerships (MLP) in the near term and for the long haul.

Outlook 2016: Energy Prices

Our calls on crude-oil prices over the past year have been spot on for the most part. Although our macro calls haven’t saved our Portfolios from the carnage, we have avoided many of the worst performers, used hedges to provide some upside protection and set ourselves up to profit from the down-cycle’s final chapters. Here’s what we see for the year ahead.

Strategy Update

Although many of our decisions in 2015 necessarily reflected our outlook for significant downside in crude-oil prices during the fall and winter turnaround seasons, investors should take a longer view when positioning their portfolios this year.

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      Balanced portfolios of energy stocks for aggressive and conservative investors.

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      Our take on more than 50 energy-related equities, from upstream to downstream and everything in between.

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      Our assessment of every energy-related master limited partnership.

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      Roger Conrad’s coverage of more than 70 dividend-paying energy names.

    Experts

    • Roger S. Conrad

      Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor

    • Elliott H. Gue

      Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor

    • Peter Staas

      Managing Editor: Capitalist Times and Energy & Income Advisor