Sun Worldwide are thought to have urged clients to renew their endeavors to acquire stocks in companies operating within the oil sector.
Despite fluctuations in the price of crude oil, "Sun Worldwide" sources say that clients who have heeded the advice will have realized tangible gains. The price of oil has dropped by nearly two-thirds since its record high at $147 in the summer of 2008 on fears that the global economic slowdown has decimated demand.
"Sun Worldwide" are thought to be skeptical of mainstream commentary which maintains that demand destruction will remain a significant factor as long as the US economy is weak and ostensibly continue to recommend oil exploration, refining and related services companies to their global clientele.
A source familiar with analysts at "Sun Worldwide" said that the general consensus at the firm is that oil will not become easier to find or cheaper to extract in the years going forward and that this will become apparent to investors far sooner than mainstream commentary would have them believe.
