Open Square Q2 2018 Letter: Weightless

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Includes: BNO, DBO, DBRT, DNO, DRIP, DTO, DWT, GUSH, IEO, NDP, OIL, OILD, OILK, OILU, OILX, OLEM, OLO, PXE, SCO, SZO, UBRT, UCO, USAI, USL, USO, USOD, USOI, USOU, UWT, WTID, WTIU, XOP
by: Open Square Capital
Summary

As oil inventories continue to decline, greater attention is paid to spare capacity.

OPEC+'s recent decision to raise oil production will prove insufficient in the long-run.

E&P equities have yet to reflect today's oil prices, let alone the coming inflection, we anticipate further upside ahead.  Fund performance +100% YTD.

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Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.