If forced to invest in energy, one should favor companies leveraged to the volume of oil produced (services, midstreamers, enabling technologies) rather than to commodity prices, because hydrocarbon consumption volume is always growing while producers are price-takers in a deflationary market.
normativepending
Speaker
DoombergEvidence Quote
“if you're leveraged to volume and not price can be a great tailwind but volume is your game that's more interesting to us.”
Created: 6/18/2026, 2:32:19 PM
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