With the US Presidential election more than a week behind us and, with Republicans controlling the Senate and House as well as the White House, the so-called “Trump trade” is well underway. One might expect that a large part of that would be a bullish move in US oil stocks but, while that has happened to some extent, the exuberance of the market has been tempered by the fact that crude has been mired below $70, close to its 52-week lows. The main reason for that seems to be the perception of relative weakness in the Chinese economy,…
