Since the early summer of 2022, the oil price has been in a general slump and has subsequently given back the gains from the first half of 2022. The development is in sharp contrast to shares in energy companies which have performed well so far in Q4.

Chinese stocks have outperformed in the recent month. This even as new covid cases have surged and as the enforcement of severe zero-covid policies continues, harming growth prospects. Hence, there seems to be increasing hopes, at least among equity investors, that Beijing will soon adopt less restrictive measures.  A change in covid policy would likely push commodity prices, including oil, higher.

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About Carlsquare

Carlsquare is a Pan-European research firm and financial advisor, focusing on M&A, Equity
Research and Growth Equity. Carlsquare has 70+ employees with deep sector knowledge in all 11
GICS sectors. The senior equity research team has extensive experience about the stock
environment and several business sectors. The team produces company research reports,
independent valuations and trading notes. The group have offices in Berlin, Copenhagen,
Hamburg, London, Munich, Paris and Stockholm. Read more

Contact
MARKUS AUGUSTSSON
Head of Equity Research
markus.augustsson@carlsquare.com
+46 (0)76 235 03 20

About Vontobel:

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Contacts

MARKUS AUGUSTSSON
Head of Equity Research
markus.augustsson@carlsquare.com
+46 (0)76 235 03 20
 
NIKLAS ELMHAMMER
Senior Equity Analyst
niklas.elmhammer@carlsquare.com
+46 (0)70 898 39 59

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Watch the oil price in case of a zero-covid pivot