Oil price rises put Opec under pressure
Oil-producing nations meet this week to decide whether to turn on the taps to increase supply
3 March 2021 • 6:00am
Saudi Arabia’s Prince Abdulaziz bin Salman and Russia’s deputy prime minister Alexander Novak will meet on Thursday via video-link to take decisions that will determine oil prices for months to come.
They and other Opec officials at the meeting will be under pressure from members to lift production cuts that have sustained oil prices in recent months, as optimism about vaccines and government stimulus packages stoke hopes of rising demand.
Oil prices are back on the rise. After briefly slipping negative in April 2020 as the pandemic triggered a major supply glut, West Texas Intermediate is now at $60, while Brent Crude, the international benchmark, is at $63.
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Why MLP ETFs like AMLP Are Coming Back Stronger in 2021 February 16, 2021
After a dismal showing in 2020, the energy sector is the best-performing group in the S&P 500 to start 2021. The wave is lifting boats with master limited partnerships (MLPs), including the
AMLP seeks investment results that correspond generally to the price and yield performance of its underlying index, the Alerian MLP Infrastructure Index. The index is comprised of energy infrastructure MLPs that earn a majority of their cash flow from the transportation, storage, and processing of energy commodities.
Historically, MLPs weren’t highly correlated to oil prices in either direction, but in recent years, the income-generating asset class displayed more sensitivity to crude fluctuations. That could be benefit AMLP investors this time around.