Even OPEC Deal May Not End Woes for World's Worst Equities
- Energy stocks are the worst performers globally this year
- OPEC nations, partners to meet next week about deal extension
Citi's Ed Morse Sees Oil Topping $60
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Not even an extended OPEC deal may suffice to lift the world’s worst-performing equities this year out of misery.
Oil stocks have tumbled 6.6 percent this year, the only group to decline in the MSCI All-Country World Index. While the Organization of Petroleum Exporting Countries and its partners are expected to prolong output cuts into early 2018 at next week’s meeting, the benefit to energy shares will likely be short-lived, say investors and analysts.