Stock price when the opinion was issued
Her energy outlook: bullish. If there's a rotation based on valuation, then energy is now attractive. If the Fed cuts rates in the second half of 2024, the 2-year-yield will drop which will benefit dividend stocks like energy. Also, we're in summer driving season and an oil price shock can always happen.
Oil inventories, but also oil demand in the cycle are both peaking. He's bullish oil for the rest of the year.