Guinness Global Energy fund

History shows oil prices bottom when the market starts to rebalance and when oil inventories stop growing; but when will this happen?

Jonathan Waghorn, co-manager of the Guinness Global Energy fund, explains why a supply/demand convergence is on the horizon.

THE BIG QUESTION

Guinness founder and CIO Tim Guinness has said the problems in Greece will not spark a fresh banking crisis even if the beleaguered nation is forced to exit the euro.

The steep fall in the oil price could damage growth and dividend prospects for some of the UK's biggest stocks, adding to managers' concerns over the outlook for the wider market.

The sharp slides in oil prices seen since the summer could continue unabated until the commodity's chief trade body OPEC (Organization of the Petroleum Exporting Countries) is finally forced to take action, investors have said.

Fracking hit the headlines recently when the UK government gave the go-ahead to a major expansion plan which will see firms bid for onshore oil and gas licences, but will it have the same success as it did in the US?

For several years investors have looked at energy stocks through the spectrum of the US shale gas revolution. But the ISIS insurgency threatening Iraq is providing a reminder that oil security is a real concern, explains Guinness Global Energy manager...