Oil Industry Faces Volatility Amidst Banking Crisis and Fed Policy Bets.

Oil prices have slumped to a 15-month low due to recession fears and other macro troubles, resulting in oil-related equities pulling back rapidly. However, the longer-term outlook for oil markets and oil-producing companies is far from bad. While investors can expect volatility in the near term, many oil equities could be rewarding investments over the longer term. Oil demand should grow meaningfully this year, mainly thanks to China's economic reopening and due to growth in high-growth countries. At the same time, global supply is not growing much, due to political and regulatory headwinds in the West and due to falling output in Russia.