What does tight oil have in common with FAANG stocks? Answer: tight oil is arguably the upstream equivalent of these tech sector leaders. It’s the hot investment play in the oil and gas index, it’s outperformed like mad, and it’s been driving to distraction those that don’t own any.
Just like the tech disruptors, tight oil has risen from humble beginnings a few years ago, and continually proved the doubters wrong to emerge as the dominant growth theme in the sector. Production has leapt from zero six years ago to 5 million barrels per day (b/d) today and will double to 10 million-11 million b/d over the next 10 years on our forecasts, almost 10% of global supply.
