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Mizuho says oil stocks are ripe for a rebound.
Jeff J Mitchell/Getty Images
Investors have been stressed about the possibility that oil demand has already peaked and it could be all downhill from here. The pandemic has reduced demand for oil as fewer people commute to work, and a shift to renewables will soon reduce demand for oil on a longer-term basis.
But one analyst says the doom-and-gloom may be overstated. In fact, Mizuho analyst Daniel Boyd is betting that oil companies which have cut their drilling substantially in response to the pandemic are actually producing too little oil now and a shortage is coming. That could lead to higher prices than the market is currently anticipating, and it could boost some stocks. ....

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