V(accine)-shaped recovery plays into our bullish oil conviction: The MUFG Global Markets Podcast

Markets have moved swiftly on from the US elections with a focus back towards the COVID-19 vaccine, broader growth and the accompanying oil demand outlook. The announcement on 9 November that a vaccine achieved 90+% efficacy in stage 3 trials – exceeding investor expectations of 40-60% as well as being above the effectiveness of flu vaccines – has broad and immediate market ramifications.

Ehsan Khoman, Head of MENA Research and Strategy, offers key reasons as to why he remains resolutely constructive on oil prices and how this week’s vaccine announcement reinforces his bullish thesis that vaccine optimism has been underpriced and underappreciated by markets.

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