OPEC's promised deal will probably prop up oil prices, but it may also jump-start more U.S. shale drilling.
One day after OPEC agreed to curb production for the first time since 2008, energy analysts are questioning the meaning of the pact.
CNBC PRO used hedge fund analytics tool Kensho to find which stocks performed the best and worst when crude climbed $10.
Investors questioned whether an OPEC agreement to curb oil production would be enough to rebalance a heavily over-supplied world market.
An agreement by OPEC to work toward a production cut could put a floor under oil and points to the strain low crude prices have had on producers.
The firm says the OPEC production cut deal doesn't change its supply outlook much.
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The "Fast Money" traders looked in the energy sector as oil rallied on the back of a OPEC production limit agreement on Wednesday.
OPEC agrees to cut oil production at Algiers meeting.
Oil prices were flat in Asian trade after a surprise OPEC deal to limit output, as skepticism mounted over enforcement of the deal.
OPEC members meeting in Algiers agreed to cut oil production to between 32.5 and 33 million barrels a day, a reduction of around 700,000 barrels.
OPEC agreed on modest oil output cuts, with Saudi Arabia softening its stance on Iran amid mounting pressure from low oil prices.
Oil prices will slide back down to $45 a barrel levels if OPEC does not ratify its production cut deal in November, says Credit Suisse's David Hewitt.
The energy sector is attractive for long-term investors now as oil prices are expected to rise steadily over the long-run, says Poten & Partners' Jason Feer.
Morgan Stanley IM's Ruchir Sharma says with China's economy expected to slow further, its declining demand will weigh on oil prices.
If OPEC manages to ratify the production cut deal, it will add credence to the organization, says Ayer Alliance Securities' Jonathan Barratt.
Oil prices won't shift much from its current range of $40 to $50 a barrel if demand does not pick up, says MV Financial's Arian Vojdani.
The OPEC deal to cut oil production may provide a short-term price support, but it won't change the supply outlook much, Goldman Sachs said.
It is questionable whether the deal will hold because the various OPEC members are in different circumstances, says Intelligent Investor's Gaurav Sodhi.
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