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OGZPY - The Best Performing Oil And Gas Stocks - January 2020
PJSC Gazprom ADR
The price of crude oil has traded in a relatively tight range over the past year, balancing several conflicting fundamental factors. Going back to late 2018 and through much of 2019, the major macro story was growing pessimism over the global growth environment pressured by the U.S.-China trade dispute uncertainty. On one hand, weaker economic data out of China, Europe, and in the U.S., particularly in industrial activity, kept a bearish outlook on the demand for oil. On the other, OPEC production cuts and more managed exports helped to support the market on the supply