Oil stocks are the best cyclical, economy reopening bet: Chris Wood

Global markets, according to a note by Goldman Sachs, are currently underestimating the demand for oil

Investors should stick pro-cyclical commodity stocks, especially oil / energy counters, which are the best way to play the reopening of the economy, advised Christopher Wood, global head of equity strategy at Jefferies in his weekly note to investors, GREED & fear.

This is despite Beijing’s recent efforts to talk down commodity prices, and despite concerns that a successful revival of the Iran 2015 nuclear deal will cause increased supply on the world oil market.

“Indeed both concerns should be used as opportunities to add to positions in the likes of copper stocks and oil stocks. The view here remains