As signaled in September, the Organization of the Petroleum Exporting Countries (OPEC) convened in November to establish a production target to help stabilize the global oil market.
After hitting a 14-year low in January, commodity prices are staging a revival as producers scale back supply, slowly bringing the market back into balance. Our analysis indicates that the recovery path remains on track, and we expect supply and demand to be largely rebalanced by the end of 2017.
As an active commodities manager, the strength of our expertise rests in the depth and rigor of our fundamental investment process. The team conducts bottom-up analysis focusing on supply and demand balances, inventory trends, valuation, market participant composition, technical data and structural curve analysis.
The Cohen & Steers Global Natural Resource Equities strategy has established a three-year track record as of July 2016. Strong stock selection and our unique approach to risk management have been key drivers of our outperformance.
The views and opinions in the preceding commentary are as of the date of publication and are subject to change. This material should not be relied upon as investment advice, does not constitute a recommendation to buy or sell a security or other investment and is not intended to predict or depict performance of any investment.
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